GEB4935 Chapter 1 Submission

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Palm Beach State College *

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Feb 20, 2024

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1 TESLA, Chapter 1 Gonzalo Amsler, Anne Marie Campion, Jessica Mhna, Macaila Ryan, Matteo Villamizar Palm Beach State College, Department of Business GEB4935 Capstone Experience: General Management Dr. Brooke Coslett January 30, 2024

TESLA 2 Abstract 2

TESLA 3 Introduction to the Organization Tesla is one of the most recognizable American-owned companies. It is headquartered in Austin, Texas, and is focused on building vehicles to accelerate the world's transition to sustainable energy. Tesla's motto is "We're building a world powered by solar energy, running on batteries and transported by electric vehicles" (Tesla). The company was founded in 2003 by entrepreneurs Martin Eberhard and Marc Tarpenning. Tesla's name originates from the inventor and engineer Nikola Tesla. After contributing $30 million to the start-up of Tesla, Elon Musk served as the company's chairman in 2004. He became the Chief Executive Officer in 2008 after becoming the largest shareholder. Tesla has many different car models currently available on the market. The first model was the Roadstar, followed by the Model S in 2012. Then came the Model X, the SUV that rolled out in 2015, and the Model 3, the sedan, in 2017. The Model 3 is the first electric car model that sold over a million units globally. After the success of the Model 3, Tesla rolled out the Model Y crossover in 2020. Tesla continued to provide innovation options for consumers, like in 2022 when it introduced the Tesla semi-truck. The Cybertruck, commonly referred to, is their version of a classic pickup truck in an electric version. In addition to the car models, Tesla also focused on solar panels by purchasing SolarCity in 2016, a 2.6 billion dollar deal. Tesla solar power produces energy for residential and commercial needs. The solar panels generate energy from the sun, and the Powerwall is a large battery used to store power when the sun is not shining and in case of an emergency power outage. Tesla also offers a competitive and powerful battery lineup called the Megapack. The Megapack, as the future of energy, relies on large-scale storage. It is designed to store energy 3

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TESLA 4 from the sun while preventing any outages that may occur. For example, if the power was to go out and Megapack was in place, it would automatically step into play. Tesla currently has the largest market share in producing electric vehicles out there. However, many companies are looking to compete in the market share of electric vehicles, such as Ford, Volkswagen, Nio (China-owned), Toyota Motor Corp, Ferrari, and GM are industry competitors that by 2030 are looking to control the market share in electric vehicles. Statement of the Problem Once the trailblazer in the electric vehicle market, Tesla is now facing a critical challenge as the landscape evolves with the entry of formidable competitors like Ford Motors. The early success and reputation of Tesla were rooted in its pioneering status in the eclectic vehicle field, enjoying a head start with minimal comparable competition. However, the dynamics have shifted, and established automakers are investing substantial resources to challenge Tesla's dominance. The primary problem is how Tesla can sustain its competitive edge amidst an increasingly saturated supply chain for electric vehicles. The influx of competitors equipped with comparable or superior offerings in terms of quality, availability, and affordability poses a significant threat to Tesla's market position. In short, can Tesla maintain its leadership in the electric vehicle market when faced with competitors that match or surpass its capabilities? In response to this challenge, our study aims to investigate various strategic avenues for enhancing Tesla's models, marketing strategies, and overall market presence. The key focus areas for exploration include upgrades to existing models, integrating artificial intelligence through robust research and development initiatives, strategic partnerships, and the potential for franchise 4

TESLA 5 expansion. These initiatives collectively aim to position Tesla ahead of the competition, safeguarding its reputation as the pioneering force in the electric vehicle space. Through a detailed examination of these avenues, our study seeks to provide strategic insights and actionable recommendations for Tesla to address the current competitive threats and proactively shape its future in the evolving landscape of electric vehicles. Research Question How can Tesla maintain its leadership in the EV market when faced with competitors that match or surpass its capabilities? Hypothesis After doing extensive research on the famous car company, Tesla, owned by Elon Musk, we have concluded to formulate and develop our research question: How does Tesla stay ahead of the curve while so many competitors are flooding the supply chain, quickly catching up, and in some cases surpasses Tesla’s quality, availability, and affordability? Based on this question, we can then create our hypothesis. Our hypothesis predicts what we expect to determine when we conclude our research. It is believed that while Tesla’s competitors seem to flood the supply chain, catch up, and possibly surpass Tesla’s quality, availability, and affordability, Tesla will still maintain their high sales over other competitors because people trust the name brand as the leading producer of electric vehicles, much like the iPhone in comparison to the multiple android model cellphones. Yes, people do want affordability; however, Tesla has become a very well-known and trusted brand, especially in terms of the quality of the electric vehicles. 5

TESLA 6 Similarly to one of Elon Musk’s other companies, SpaceX, he chooses only the best of the best people in their field to ensure they get the highest quality of results. In many articles and data, Tesla sales have consistently surpassed all other car companies that sell electric vehicles by a reasonably large margin. This proves our opinion in business terms such as profit, growth, customer satisfaction, market share, etc., and supports our opinion and prediction. Research Significance The research that has been conducted on Tesla's company is of great significance because it has had an impact on modern technology. Many of the ideas that go into the manufacturing of Tesla electric vehicles have been developed to be utilized in many different manufacturers and departments. For example, their modern technology expanded when Tesla released the world's first premium all-electric sedan in 2008. Some of the other car companies also started making electric vehicles. Researching Tesla is also essential because it will help improve the environment we are currently living in. All Tesla vehicles offer a zero-emission feature. What this means is that this feature produces zero emission, which entails the benefit of not emitting any harmful pollutants into the air, such as Carbon Dioxide, Carbon Monoxide, or Nitrogen oxides, which provides a safer and cleaner environment for everything and everyone around us. Overall, the research on Tesla vehicles is to be effective on the environment and modern technology to have a more sustainable future due to its open-source patents, manufacturing, and environmental impact. Purpose The overall purpose for conducting this research is to be able to determine how effective 6

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TESLA 7 modern technology can be in benefiting the environment, and also to determine to what extent Tesla vehicles can positively impact our surroundings on a day to day basis and be able to maintain its status within the electric vehicle market when there are multiple competitors matching its capabilities. The findings that have been executed throughout this research have been favorable. The reason being , because Tesla’s electric vehicle company has had thus far a positive outcome and impact to society. Tesla exports its technology standards through open source patents , which gives them the opportunity to make its own technology on a more universal level. The findings have conducted that Tesla vehicles also benefit the economy by bringing battery manufacturing and parts of its supply chain in house. Since its vehicles are electric, no fuel is needed, therefore, it makes it more cost effective for individuals. This vehicle is best known for its positive impact in the environment . It reduces carbon emissions , improves air quality and it also lessens the dependency on fossil fuels, which helps fight climate change and contribute to a cleaner air space, which has been an ongoing world wide problem. Data Collection/Research Methods For the means of the research to be completed on Tesla, INC., and the question of how the organization is staying ahead of the curve and steady on its supply chain, it is essential to study the company through thoughtful qualitative research. Qualitative research, by definition, is a specific category of research; it dives into problems by going deeper by generating hypotheses as well as investigating the why. An essential step is reading and comprehending pertinent literature from different independent resources. Choosing a reliable data collection and research method is vital to a solid 7

TESLA 8 foundation for any research project. A foundational knowledge of this organization can allow for a deeper understanding and connection of different points within the company, leading to a more understandable picture of Tesla after the research within this paper. There are many reputable and easy ways to retrieve data regarding Tesla. One of the best would be to analyze the online records from the source, corporate, and other independent scholarly sources. Scholarly Journal articles should be utilized as well. Researchers should assess the publisher of the article's credentials, the quality of their website should be checked, and it should be verified that the journal fits into the scope of the paper and the research question at hand. It is imperative to see what inventory the corporation produces, what costs the company, and the profits earned. Tesla releases a quarterly report detailing the number of cars being produced and delivered; this information can tell the researcher a lot. This includes the financial statements, cost of sales, foreign exchange movements, and directly leased vehicles from Tesla. Financial statements are readily available online from numerous credible sources, such as the United States Government, Wall Street Journal, and Yahoo Finance. Having two or more independent sources verifying the same information is always the best choice before it can be chosen as evidence for an argument. Summary Chapter one introduces Tesla which was founded in 2003, and twenty one years later is still one of America’s most recognizable producers of EV’s (electric vehicles). Elon Musk was one of the major contributors to the start up of Tesla. Tesla has produced many different models over the years with the Model 3 leading the pack with selling over one million units globally. 8

TESLA 9 This research of Tesla is to see if it can maintain its leadership in the EV market when faced with competitors who match or surpass its capabilities. 9

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TESLA 10 References Electric cars, Solar & Clean Energy . Tesla. (n.d.). https://www.tesla.com/ How Tesla sets itself apart . Harvard Business Review. (2020, February 28). https://hbr.org/2020/02/how-tesla-sets-itself-apart L., H. C. W., Schilling, M. A., & Jones, G. R. (2020). Strategic management: An integrated approach: Theory & cases (Vol. 13). Cengage. McFadden, C. (2023, April 17). The short but fascinating history of Tesla electric cars, Solar, and Clean Energy . A Short and Fascinating History of The Company, Tesla. https://interestingengineering.com/transportation/the-short-but-fascinating-history-of-tesla Tesla, INC. (2024, January 24). Tesla Vehicle Production & deliveries and date for Financial Results & webcast for Fourth Quarter 2023: Tesla Investor relations . Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for Fourth Quarter 2023 | Tesla Investor Relations. https://ir.tesla.com/press-release/tesla-vehicle-production-deliveries-and-date-financial-results-w ebcast-fourth-quarter-2023 Tesla competitors: 7 rival EV stocks to buy | investing | U.S. news. (n.d.). https://money-uat9.usnews.com/investing/stock-market-news/slideshows/upstart-tesla-competito rs-to-watch?slide=6 Popli, N. (2022, October 25). New Electric Vehicles create competition for Musk’s tesla . Time. https://time.com/6224562/competition-tesla-elon-musk/ 10

TESLA 11 Yahoo! (2023). Tesla’s promising future . Yahoo! Finance. https://finance.yahoo.com/news/teslas-promising-future-153410441.html?guccounter=1&guce_r eferrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADYF5Bunf-0pN 0S99po-XsTK_1cli4zf0Xzmrp8X1bZUSmGb5y7vwor65xXRV-2xCYRdoEKo67Xqb6dcb-mgd4 KW0ln-Gdy0ERANpKjzoMZoaSiJGEOhV55RQtC8SVQrAoMB65DyB2yrs3xQeb_aJKinpW6 wX0E_MKYJddg9DzZc 11

GEB4935 Chapter 1 Submission

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