Timeline: Main events in Tesla’s history as a public company
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(Reuters) – Here are some of the key events in Tesla Inc’s (TSLA.O) turbulent history as a public company.
June 29, 2010 – Chief Executive Elon Musk and team ring the Nasdaq opening bell as Tesla becomes the first car company to go public in the United States since Ford Motor Co in 1956.
June 22, 2012 – Tesla delivers the all-electric Model S to its first customers at Tesla’s factory in Fremont, California.
May 8, 2013 – Tesla reports its first quarterly profit. In October 2016, it reports its only other quarterly profit to date.
May 4, 2016 – Musk surprises investors by announcing plans that are two years ahead of schedule to build 500,000 vehicles in 2018, about 6 times its 2016 production level – and 1 million vehicles in 2020.
June 21, 2016 – Tesla announces its plan to buy Solar City, a solar energy system company in which Musk holds a stake, for $2.9 billion.
July 28, 2017 – Musk hands over the first Model 3s to employee buyers, announcing over half a million advance reservations for the new electric sedan starting at $35,000. Musk anticipates “at least six months of manufacturing hell.”
Nov. 1, 2017 – Tesla pushes back its target to build 5,000 Model 3s per week to the first quarter of 2018 from an original target of December due to “production bottlenecks.”
Jan. 3, 2018 – Tesla pushes back its production target for the Model 3 sedan for the second time, now to the end of the second quarter of 2018.
April 3, 2018 – Musk says Tesla will not need to raise more capital in 2018. Shares jump as much as 6.9 percent.
May 2, 2018 – Tesla shares slump after Musk cuts off analysts on a conference call asking about company finances, criticizing their “boring, bonehead” questions. Tesla loses $2 billion in stock market value.
July 1, 2018 – Tesla factory workers produce more than 5,000 Model 3 sedans during the last week of June, hitting Musk’s goal.
Aug. 1, 2018 – Tesla reports its biggest-ever loss but shares rise on Musk’s claims of positive cash flow and profit in the second half of 2018, and signs of more consistent Model 3 production.
Aug. 7, 2018 – Musk surprises investors by using Twitter to announce he is considering taking Tesla private at $420 per share, adding “Funding secured.”
(The story is refiled to add dropped word in second paragraph.)
Compiled by Vibhuti Sharma and Akabsha Rana in Bengaluru and Alexandria Sage in San Francisco; Editing by Bill Rigby
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