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Elon Musk - Changemaker in EV industry

Elon Musk is known as one of the most daring entrepreneurs in recent times, as he has enabled highly technological and innovative projects. Among the companies he founded or headed appear names such as Paypal, Tesla, SpaceX, and Neuralink. Its trajectory also draws attention to the diversity of its areas of activity; geolocation, clean energy, mobility, space exploration, artificial intelligence, and neuroscience.

In May 2002, with $100 million of his fortune, Musk created Space Exploration Technologies or SpaceX. The company's objective? Spread human civilization across space. Space conquest, however, doesn't seem to take all of Elon Musk's time. His preoccupation with human extinction also made him take action against climate change. The solution was electric cars, today almost synonymous with the name of every company: Tesla. An electric car: autonomous, affordable, and beautiful.

Clean energy with Tesla
As with PayPal, Musk did not found the automaker Tesla, but saw an opportunity in the business early on in the journey and catapulted the results to a global operation. The company was created in July 2003 by engineers Martin Eberhard and Marc Tarpenning in California after GM recalled and destroyed its EV1 electric model. In Tesla's first Series A financing round, in February 2004, Musk led investors with $6.5 million of the total $7.5 million raised and became chairman of the company's board of directors. With their contribution, Musk became more present in the company's daily life and accompanied the launch of the first model, the Tesla Roadster.

In the Series B and C rounds, Musk was also one of the main investors, with an investment of US$ 9 million of US$ 13 million and, later, with another US$ 12 million of US$ 40 million. The latter included major investors such as Sergey Brin and Larry Page, Google founders, Jeff Skoll, former president of eBay, and funds managed by JPMorgan. After the 2008 crisis, when founder Martin Eberhard left Tesla, Musk took over as the company's CEO and turned the face of the company, with pyrotechnic presentations of each new model.

With the sales of the first electric vehicle, Roadster, Tesla went to work on the Model S sedan, launched in 2012, followed by the SUV Model X, three years later. The arrival of the Model 3 in 2017 marked the first full-scale global production. Tesla's strategy resembles SpaceX's verticalization. The company produces around 80% of the parts, distancing itself from traditional assemblers, which rely on suppliers and focus on vehicle engineering and completion. As in the case of its space sister, by being the pioneer of a growing market, Tesla needed to create businesses to solve bottlenecks and barriers to its growth.

The automaker, therefore, has battery factories, charging networks for electric cars and produces solar panels to feed the energy network. To fund its audacious goal of being a global automaker, in 2010 the company made its IPO (initial offering). It is currently the most valuable US-listed company in the industry, surpassing traditional GM.

Despite the industry leadership, Musk regrets having listed Tesla because, now, the company faces strong pressure from sellers, which amplifies problems to harm the company. Thus, the automaker is constantly among those with the shortest positions, with billions of dollars betting on the shares' fall. The reason for the volatility is even reasonable: Tesla has not yet gained the confidence that it can massively produce vehicles, at a profitable price and within the established deadline.

Wrapping up
Elon Musk is that entrepreneur who made private space exploration possible, the creation of a global electric car manufacturer, and a new urban transport system. In recent years, living the success of SpaceX and the global rise of Tesla, Musk has also started to focus on other projects – which, again, combat his fear of the end of humans. In addition to trying to spread the human species across the Solar System and reduce climate change, Musk tries to combat his fear of eradicating humans by machines. With his commendable contributions in the EV industry, Elon Musk definitely brings a revolution in the near future.

Why Kazam EV?
At Kazam, you can find every possible assistance about Electric vehicles and their charging stations in India. We also take care of our EV buyers and give them customized EV solutions as per their needs. From battery and charging solutions to the range and cost of electric vehicles, this is the one-stop shop for every EV requirement. For more information, please visit Kazam EV at https://www.kazam.in/, or write to us your concerns on our social media handles Kazam EV, and we will try to respond to your queries at the earliest. Book an appointment today!

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