In addition to its automotive segment, Tesla has an energy-generation and storage segment that includes its business dedicated to the "design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives."
The company offers its Powerwall battery for residential and commercial-scale applications, while its Megapack is suited for utility-scale energy-storage applications.
Who is the owner of Tesla?
Although Tesla has no single owner, Elon Musk is the largest shareholder. The company, then called Tesla Motors, was founded by Martin Eberhard and Marc Tarpenning in 2003. Musk hitched a ride with the company shortly after it was incorporated, providing more than $6 million in 2004 during its Series A funding round.
At that time, Musk was appointed as the company's chairman. Additionally, Musk made other investments in Tesla. For instance, he participated in Series B and Series C funding rounds before Tesla's initial public offering (IPO) in 2010.
Although he receives considerable attention as the CEO of Tesla -- a position he's held since 2008 -- Musk also has his sights set on the stars, serving as the CEO and chairman of SpaceX, a company working to reduce the cost of space exploration. Musk is recognized as one of the most accomplished entrepreneurs of modern times. In addition to founding SpaceX, Musk founded The Boring Company and Neuralink.
Reimagining urban transport, The Boring Company is attempting to alleviate city traffic by developing tunnel networks. Neuralink, meanwhile, is developing brain implants to help people with certain medical conditions. Early in his business career, Musk also achieved success as a co-founder of x.com, which eventually became PayPal (PYPL -0.10%). And in 2022, Musk acquired Twitter and rebranded it to X the following year.