Now, Tesla Motors, the electric car making giant, is simply known as Tesla Inc., announced the automaker this morning. The huge change in name reflects the moves that Elon Musk, the Chief executive officer of the electric car maker, vowed to make in 2016 to combine his electric car efforts with his clean energy efforts.
Tesla Motors changes company name to just ‘Tesla’
The U.S.-based electric carmaker already makes solar roofs and home batteries beyond electric vehicles. Also, the automaker acquired the solar energy company ‘SolarCity’ recently. The Solar panel installed is run by cousins of Musk, Lyndon Rive and Peter Rive, who are the Chief executive and chief trading officer of the company, respectively. Musk is the chairman of the solar energy giant and holds largest share in both SolarCity and Tesla.
The CEO of Tesla has not been shy about how his goals for the automaker are not just about electric vehicles. Musk revealed his second version of the company’s “Master Plan” last July. In the second version of the “Master Plan,” the CEO of Tesla laid out his vision for the future of the electric car making company.
The SolarCity chairman wants to use the automaker to “expand the electric vehicle product line to address all major segments, create stunning solar roofs with seamlessly integrated battery storage, allow your car to make money for you when you aren’t using it, and develop a self-driving capability that is 10 times safer than manual via massive fleet learning.”
Tesla hinted to this change last year
The name change echoes another expansion and re-branding of another technology company: Apple. A decade ago, the Cupertino-based iPhone making giant dropped “Computer” from its name to become Apple Inc. when it first released the iPhone.
The name change of the automaker, from Tesla Motors to just Tesla Inc., also reflects the expansion of the U.S.-based car company beyond electric cars into solar energy and lithium ion batteries. The change in name was expected after the U.S.-based automaker shortened its web address to “www.tesla.com” in June of 2016.
According to CNBC, this change comes just days after the electric carmaker “cut the ribbon on a large battery storage installment at a power station in southern California, to store energy for use during peak hours.” The automaker, after its successful acquisition of SolarCity, is selling its Powerwall to smaller businesses and residential customers, selling its large Powerpack batteries to large commercial customers and utilities, and selling solar power products as well.