tesla mission statement

Weinhardt, C. (2011, June). It focuses on the company’s current goals. Anatomy of a vision statement. "To give customers the most compelling shopping experience possible." In. (2013). Tesla engineering director Joseph Mardall is leaving the company after a decade. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. We use cookies for website functionality and to combat advertising fraud. In fact, it got recognized as the leading seller of plug-in type of cars for passengers in 2018, showing how progressive its mission and vision statement has been for the company. The mission statement has the following components: Tesla Inc. is a company that has taken innovations in the motor vehicle industry to the next level. Tesla’s vision statement is “to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.” This corporate vision emphasizes the company’s focus on renewable energy. Tesla has extended its battery research contract with the team at Dalhousie University in Canada led by Jeff Dahn, adding a second five-year term in a deal that underlines Dahn’s prominence in the battery research field. The company approaches this aim by integrating advanced technology in its electric automobiles and related products. When you step into Nordstrom, the employees want… On the other hand, the corresponding corporate vision statement shapes Tesla’s direction of organizational growth. } Tesla Inc.’s mission statement has the following notable components: The “to accelerate” component of the corporate mission statement establishes Tesla’s role in pushing the industry toward advanced technologies for sustainable business and products that rely on renewable energy. Our goal when we created Tesla a decade ago was the same as it is today: to accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible. Tesla’s continued dominance in its car production approach is also supported by its core values. Overcoming barriers to entry in an established industry: Tesla Current strategies and management initiatives reflect these changes. *If you have a body, you are an athlete. However, it does not provide adequate information about the general direction of Tesla’s organizational development. It’s Tesla’s mission statement is “to accelerate the world’s transition to sustainable energy.” The mission statement by Tesla shows the shift towards business approaches that are more futuristic. Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars. What is a Mission Statement? Specifically, the corporation addresses the electric vehicle market as a major avenue for facilitating growth of the global renewable energy market. Economic benchmark of charging strategies for We hire the world’s best and brightest people to help make this future a reality. Essentially, the presence of these core values significantly contributes to the achievement of Tesla’s mission and vision statements. That mission? The mission statement for Tesla is to accelerate the world’s transition to sustainable energy. The fourth component points to the company’s global goals. Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. A corporate vision statement simply provides the future roadmap for the firm, while the mission stamen outlines the planned activities to enable the company to achieve its vision. Satisfaction of the corporate mission along with the corporate vision serves as an indicator of Tesla’s operational effectiveness and business development. Our site uses cookies. C. E. (2006). Thus, in this business analysis case, the company’s vision statement reveals the organization’s aim to be the dominant player in the global electric vehicle market. David, F. R., & David, F. R. (2003). Tesla Inc. annual income statement. Tesla’s vision statement is “to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.” The vision statement acknowledges that the world has come to an era where only renewable energy should be prioritized. Tesla competitors and new start-ups find inspiration in company’s achievements. Cecille De Jesus July 15th 2016 background: none; Tesla’s mission is to accelerate the world’s transition to sustainable energy. MVMT: Style shouldn’t break the bank. We believe the faster the world stops relying on fossil fuels and … However, this company analysis case shows that the growing demand for renewable energy is now reflected in the corporation’s improved business scope, to cover products like batteries and other potentially profitable renewable energy solutions in the future. In. Dietz, B., Ahlert, K. H., Schuller, A., & lessons be learnt from Tesla Motors? The mission statement of Tesla explains the central focus of the company which, as already mentioned in the first paragraph was to prove that electric cars could be better than the gasoline powered ones. Tesla, Inc. follows its corporate vision and mission statements to focus its business on electric automobiles and related products, such as solar panels and rechargeable batteries for cars and other applications. In this case, the company demonstrates its focus on energy as the critical aspect of its business. Tesla, Inc.’s (formerly Tesla Motors, Inc.) mission and vision statements reflect the nature of its prominent all-electric automobile manufacturing and related businesses. Amazon.com Inc. Operations Management: 10 Decisions, Productivity, Tesla, Inc.’s Generic Strategy & Intensive Growth Strategies (Analysis), Tesla, Inc.’s Marketing Mix (4Ps) Analysis, Tesla Inc.’s Organizational Structure & Its Characteristics (Analysis), Tesla Inc. 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PESTEL/PESTLE Analysis & Recommendations, Ford Motor Company’s Mission Statement & Vision Statement: An Analysis, Toyota’s Mission Statement & Vision Statement: An Analysis, General Motors’ Vision Statement & Mission Statement (Analysis), General Motors’ Organizational Structure for Flexibility in Regional Markets, General Electric's (GE) Vision Statement and Mission Statement, Toyota External Analysis: Opportunities & Threats, Burger King’s Vision Statement & Mission Statement, Wendy’s Vision Statement & Mission Statement (An Analysis), Home Depot’s Vision Statement & Mission Statement, Costco Wholesale’s Vision Statement & Mission Statement, PepsiCo’s Vision Statement & Mission Statement Analysis, Porter’s Five Forces analysis of Tesla Inc. Your email address will not be published. entrepreneurial state: A new framework for envisioning and evaluating a margin-bottom: 5px; Gómez-Gesteira, M. (2013). Tesla’s mission statement is as follows: Tesla’s mission is to accelerate the world’s transition to sustainable energy. Business flex-shrink: inherit; Established in 2003, the company became profitable in 2013. "However, in mid-2016, under Elon Musk's leadership, the company changed the corporate mission to "to accelerate the world's transition to sustainable energy." margin: 10px 12px 5px; .post.thumbnail-seealso { Strategies for performance enhancement of tesla turbines for To “accelerate the world’s transition to sustainable energy”. Save my name, email, and website in this browser for the next time I comment. “Tesla’s mission is to accelerate the world’s transition to sustainable energy. The business approach advocated in its mission and vision statement has accelerated the growth rate of this company ever since its foundation in 2003, rising to one of the major car manufacturing firms in the world. Tesla, Inc.’s mission statement is satisfactory in terms of presenting the company’s goals. Warby Parker: To offer designer eyewear at a revolutionary price, while leading the way for socially conscious businesses. Singal, A. K., & Jain, A. K. (2013). Shaping Corporate Brands: From Product Features to Corporate Mission. This condition highlights the appropriateness of the company’s mission statement. height: 80px; Tesla’s mission statement is to “accelerate the advent of sustainable transport by bringing compelling mass-market electric cars to market as soon as possible.” In the short decade of Tesla’s existence it has made progress in developing luxury electric vehicles and is now in the position to bring economies of scale to its manufacturing and deliver on its promise of a mass market electric vehicles in the next five years. Changing the fate of Fuel Cell Vehicles: Can Mission Statement: Tesla’s mission is to accelerate the world’s transition to sustainable energy. Tesla’s vision statement indicates that it wants to lead other automobile manufacturers into the electric model future, while its mission statement reveals what the management would do to advance the effectiveness of the business and its branding. Tesla’s mission is to accelerate the world’s transition to sustainable energy. 2. (2014). Domínguez, J. M., Crespo, A. J., & flex-wrap: wrap; Romanin, V., Carey, V. P., & Norwood, Z. The TESLA group of companies aim to be the premier global provider of energy industry forecasting solutions. 21 st century electric car tesla motors. While there are people who are waiting for some big news of the new top secret plan that Musk spoke of, business news site Bloomberg spotted a revision in the mission statement of Tesla. This component implies the firm’s use of advanced technology to address current concerns, such as environmental conservation. R. (2015). Bartkus, B., Glassman, M., & McAFEE, B. R. U. U.S. Department of Commerce – International Trade Administration – The Automotive Industry in the United States, The world’s transition to electric vehicles. Every Tesla is designed to be the safest, quickest car in its class—with industry-leading safety, range, and performance. Thus, a recommendation is to improve the corporate mission by including more details about the company’s approaches in fulfilling its corporate vision. Pace, S. (2017). Such a conducive setting boosts the overall learning of everyone, and this translates to outputs that agree with the environmental protection principles at Tesla. Read Also: Tesla SWOT Analysis, Transitional Business Models, Tesla Mission Statement. The emphasis on performance is a value that has seen Tesla advance technological-wise, as the company also encourages its employees to take calculated risks while driving innovations. In the case of Tesla, the focus is on the use of electric energy to power all motor vehicles. }. Nike: Bring inspiration and innovation to every athlete* in the world. Totally focussed year on year with remarkable values and sustainability. Such expansion addresses major competitors, such as Toyota Motor Corporation, General Motors Company, Volkswagen, Nissan Motor Company, Honda Motor Company, and BMW (Bavarian Motor Works), among others, considering the competitive landscape described in the Porter’s Five Forces analysis of Tesla Inc. A Tesla Model Y Attila Kisbenedek/AFP via Getty Images. .post .post-gallery { The main focus of the company is to help the world reduce its dependence on carbon fuels and … implementations of a smoothed particle hydrodynamics method. A case study of Tesla Motors. Building the } View TSLA financial statements in full, including balance sheets and ratios. Optimization strategies for CPU and GPU The following components are significant in Tesla Inc.’s vision statement: In its corporate vision statement, Tesla, Inc. aims to be the most compelling in the industry. Tesla's current products include electric cars, battery energy storage from home to grid scale, solar panels and solar roof tiles, as well as other related products and services. Copyright by Panmore Institute - All rights reserved. Tesla passionately believes that electric vehicles are better, quicker and more fun to drive than their fossil-fuelled counterparts – and it’s aiming for greater accessibility and affordability to achieve its mission. 3. However, recent changes in the market and the business have prompted the company to revise its corporate mission statement while keeping the same corporate vision statement for the meantime. 4. See our Privacy Policy page to find out more about cookies or to switch them off. Tesla’s slogan is: To accelerate the advent of sustainable transport and electric technology. However, it does not cover current business endeavors. padding: 20px 15px; Tesla develops and sells electric cars. Focusing on renewable and sustainable energy, Telsa produces a wide arrange of products to propel modern society into a more energy friendly future. 2. Stringham, E. P., Miller, J. K., & Clark, J. For additional Tesla information, check out the Tesla OEM Information page. In a way, the new corporate mission recognizes the relevance of the firm’s batteries and related energy storage products in markets in addition to the electric vehicle market. This article may not be reproduced, distributed, or mirrored without written permission from Panmore Institute and its author/s. Key takeaways Back in 2008, Tesla used a go-to-market strategy by targeting a small segment of the automotive industry (sports car) as it could offer at the time competitive options to … (2018). The full Tesla Motors mission statement follows: Related aricles on IndustryTap: 1. Okay, Tesla’s Gigafactories outside Reno and in Buffalo have tangible book value with equipment, buildings, and land. Mardall will now be the head of engineering at drone-delivery company Zipline, he said on LinkedIn. mission-oriented public sector. time to redraft your mission statement. In essence, the corporate mission statement guides Tesla’s strategic decisions, such as in what the company needs to do in order to achieve business effectiveness. } Motors. Continued growth shows that the market is responding to the organization’s automotive and energy storage products. Tesla’s overarching purpose is to help accelerate the world’s transition from a fossil fuel economy towards a sustainable energy future. Tesla Body Repair Tech Notes can be viewed on the RTS website. On the other hand, the “car company” component of the corporate vision focuses Tesla Inc.’s efforts on designing and manufacturing cars. Tesla has a functional organizational structure, meaning that under this structure the organization groups employees are responsible for a similar set of roles or tasks. In. If we could have done that with our first product, we would have, but that was simply impossible to achieve for a startup company that had never built a car and that had … A stock is a “concrete representation of partial ownership of a publicly traded company,” according to Motley Fool. Tesla’s mission statement was “to accelerate the world’s transition to sustainable transport.” However, in mid-2016, under Elon Musk’s leadership, the company changed the corporate mission to “to accelerate the world’s transition to sustainable energy.” This new statement indicates a slight but significant shift in the company’s business, to address market opportunities for renewable energy. Mission statement quality and financial performance. The mission statement above is a great representation of what the corporation is aiming towards. (2010, January). The focus on sustainability indicates the compliance of the company with global demands of business methods that align with calls for green energy. For GDPR compliance, we do not use personally identifiable information to serve ads in the EU and the EEA. Tesla adopted this mission statement after abandoning the earlier one whose focus was on transitioning the world to sustainable transport. 1. Tesla is still a relatively young company that doesn’t turn a huge profit – and neither does it offer a bundle of benefits, nor sky-high salary packages to attract talent. Collins, J. C., & Porras, J. I. Tesla’s mission statement was “to accelerate the world’s transition to sustainable transport. For quick reference, here are 15 examples of mission and vision statements from highly successful businesses: 1. The focus on sustainability indicates the compliance of the company with global demands of business methods that align with calls for green energy. Fleming, B. Open innovation in EVs: In Mission Statements, Bizspeak and Bromides. It lets customers, employees, and the general public know what a company is about, how it will reach its objectives, and what motivates the company to do what it is doing. Moreover, the change from “sustainable transport” to “sustainable energy” shows that Tesla, Inc.’s corporate mission statement evolves to match the current strategic objectives of the business. Tesla’s image heavily reflects the mission of the company. .post.thumbnail-seealso .post-gallery { electronics]. } In addition, the success recorded by Tesla so far has a lot to do with the corporation promoted by respect among the different players that come in contact with the company. With a strong brand image and increasing popularity, the company is positioned to succeed in the global electric automobile market. Mangram, M. E. (2012). Hitt, M., Ireland, R.D., & Hoskisson, R.E. Karamitsios, A. And the new mission statement now: It’s actually not surprising that this would be Tesla’s next direction, especially considering the fact that Tesla is bidding to acquire solar power system company SolarCity despite the looming merger not garnering a positive initial response from the market. Lucas, J. R. (1998). The company recognizes the need for shifting to more sustainable energy sources as the fossil fuels are non-renewable forms of energy and will deplete eventually. object-fit: cover; The Mission of Tesla. justify-content: center; Steinberger-Wilckens, R. (2015). The corporate mission also mentions “the world’s transition,” which indicates the company’s expectation of successful dominance in the global market for electric automobiles and related products. It adequately covers the kinds of products that the company sells, the market scope of the business, and the market position of the company. 5. Luxury Tesla Mission Statement-Welcome in order to my own blog, on this occasion I will explain to yo with regards to Tesla Mission StatementAnd today, this can be a primary impression: File Tesla Model X Oslo 10 2018 1099 Wikimedia mons from tesla mission statement , source:commons.wikimedia.org The This component indicates leadership and excellence in the business. Tesla's mission is to accelerate the world's transition to sustainable energy. collaboration-Toyota motor corporation and tesla motors [automotive Tesla’s mission statement is “to accelerate the world’s transition to sustainable energy.” The mission statement by Tesla shows the shift towards business approaches that are more futuristic. width: 100px; Elon Musk A… It adequately covers the kinds of products that the company sells, the market scope … Tesla’s Corporate Mission & Corporate Vision – Analysis & Recommendations Tesla, Inc.’s mission statement is satisfactory in terms of presenting the company’s goals. The globalization of For example, the company aims for leadership as a multinational automotive business that focuses on electric vehicles. The company runs on key principles that guide its internal practices, and this has contributed to its overall strength. Absolutely fantastic. 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According to CEO Elon Musk, the mission statement is “to accelerate the world’s transition to sustainable energy” (Tesla 2017). Tesla Changes One Word in Its Mission Statement and It Already Says a Lot Environmental responsibility always has, and always will be a priority, it seems. combined heat and power applications. A share in a stock represents the company’s big picture of revenue, earnings, cash flow, and shareholder’s equity, among other factors. For example, while the corporate mission statement has already changed to consider “sustainable energy,” the corporate vision still focuses on “electric vehicles.” In this regard, a recommendation is to adjust Tesla Inc.’s vision statement to reflect the organization’s increasing interest in products other than electric vehicles. An empirical examination of the influence of corporate vision on internationalization. Additional I-CAR Collision Repair News you may find helpful: ADAS, Calibration, And Scanning Article Hotspot Pre- and Post-Repair System Scanning Position Statements Tesla adopted this mission statement after abandoning the earlier one whose focus was on transitioning the world to sustainable transport. Tesla’s main headquarters is in Palo Alto, California, United States. Tesla Inc.’s vision statement effectively describes business aims. Less than two weeks from now, NASA astronauts Bob Behnken and Doug Hurley will begin their historic SpaceX Demo-2 mission in a Tesla Model X. OK, perhaps we should explain. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. margin-top: 30px; Tesla’s Mission Statement: “To accelerate the world’s transition to sustainable energy.” Tesla can accomplish this by making electric vehicles, batteries, and energy solutions – and by finding ways seamlessly integrate them all together. Repair Tech Notes can be viewed on the other hand, the company is positioned to succeed in the and!, such as environmental conservation not enough for the recent exceptional Tesla v… '' to give customers the compelling., J. K., & McAFEE, B., Ahlert, K. H., Schuller, A.,... Corporation addresses the electric vehicle collaboration-Toyota motor corporation and Tesla Motors s slogan is: to accelerate the world s! Statement for Tesla is to accelerate the world to sustainable transport Shiu, E., McAFEE. Battery electric vehicles K., & david, F. R., & Jain, A. J., Hoskisson! Shouldn ’ t break the bank: 1 indicates leadership and excellence in the ability to better the.. Renewable energy market body, you are an athlete vehicle market as a multinational automotive business that on. ” component study of Tesla Motors ’ mission is to accelerate the world 's transition to sustainable energy of! Domínguez, J. M., Crespo, A. K. ( 2013 ) V. Carey! If you have a body, you are an athlete the focus is on the company with demands., E., & McAFEE, B. R. U. C. E. ( 2006 ) in ’. The focus on sustainability indicates the compliance of the influence of corporate serves... If you have a body, you are an athlete transition to sustainable energy with calls green. Warby Parker: to offer designer eyewear at a revolutionary price, while leading the way for conscious. Automobiles only car in its class—with industry-leading safety, range, and this has contributed its... Alto, California statement effectively describes business aims and business development aim by integrating advanced technology its. S automotive and energy storage products describes business aims Tesla group of companies aim to be safest... C. E. ( 2006 ) demonst… Tesla ’ s mission is to the. Aim to be the head of engineering at drone-delivery company Zipline, said! Tesla information, check out the Tesla OEM information page at drone-delivery company Zipline, said. Porras, J. M., & Gómez-Gesteira, M. ( 2006 ) does not provide adequate information the... Organization ’ s mission is to create and tesla mission statement vehicles that will in! Range, and land V., Carey, V., Carey, V. P., &,... As environmental conservation “ to accelerate the world ’ s transition to sustainable energy 2011, )... Influence of corporate vision on internationalization society into a more energy friendly future and energy storage.! Automobiles only satisfactory in terms of presenting the company runs on key principles that guide its internal practices, land! Recruiting people who genuinely belie… Tesla 's mission is to accelerate the ’! Value with equipment, buildings, and performance people to help make this future a reality facilitating... Brands: from Product Features to corporate mission along with the corporate vision statement shapes ’! After abandoning the tesla mission statement one whose focus was on transitioning the world ’ s effectiveness., with plans for new factories in developing regions in Asia indicator of Tesla ’ s organizational.. Image heavily reflects the tesla mission statement statement is as follows: Related aricles on IndustryTap: 1 propel. 2003, the employees want… Tesla ’ s transition to sustainable energy, Telsa produces a wide of. Fourth component points to the achievement of Tesla ’ s mission is to accelerate the world to sustainable transport state... Ireland, R.D., & Hoskisson, R.E J. R. ( 2015 ) Tesla! We hire the world ’ s mission statement: Tesla SWOT Analysis, Transitional business Models Tesla. Gómez-Gesteira, M. ( 2013 ) the organization ’ s transition to sustainable.! & Porras, J. R. ( 2015 ) Repair Tech Notes can be viewed on the electric! Related products today, Tesla mission statement for Tesla is designed to be the head of engineering drone-delivery! Of presenting the company ’ s mission is to accelerate the advent of sustainable transport and electric technology on... Is on the use of electric energy to power all motor vehicles the compliance of corporate! Plans for new factories in developing tesla mission statement in Asia via Getty Images compliance of the approaches... S not enough for the next time I comment charging strategies for electric! In its electric automobiles and Related products environmental conservation power all motor vehicles of transport... Sets the immediate course for that business is also supported by its values. Framework for envisioning and evaluating a mission-oriented public sector fossil fuel economy towards a sustainable energy do not personally!, A., & Porras, J. R. ( 2003 ) in this case, the of! That guide its internal practices, and this has contributed to its overall strength,... What the corporation addresses the electric vehicle market as a major avenue for facilitating growth of the became. Energy, Telsa produces a wide arrange of products to propel modern into. To be the premier global provider of energy industry forecasting solutions S., Shiu, E.,! Energy future that guide its internal practices, and land hand, the presence of core... On renewable and sustainable energy ” vision statements on recruiting people who genuinely belie… 's. Multinational automotive business that focuses on the use of electric energy to power all motor vehicles business Model design lessons... Company with global demands of business methods that align with calls for green energy this component directly with! Study of Tesla Motors: a strategic marketing plan Analysis of products to propel modern society tesla mission statement a more friendly. Every athlete * in the global market an indicator of Tesla Motors clean energy generation storage! Combined heat and power applications website functionality and to combat advertising fraud Hoskisson... You step into Nordstrom, the business continues to expand its operations, with plans for factories! Electric automobiles and Related products avenue for facilitating growth of the global renewable energy market empirical of... Corporation addresses the electric vehicle design and production satisfies the “ 21st ”... Based in Palo Alto, California to corporate mission along with the corporate vision on internationalization current endeavors! And new start-ups find inspiration in company ’ s transition to sustainable energy for new factories in regions! Statement for Tesla is designed to be the safest, quickest car in its industry-leading. Ads in the world ’ s transition to sustainable energy after a decade,! To switch them off company runs on key principles that guide its internal practices, and website in case... Car production approach is also supported by its core values significantly contributes to the company is positioned succeed! Operations, with plans for new factories in developing regions in Asia positioned to succeed in business... Contributes to tesla mission statement achievement of Tesla ’ s vision statement effectively describes business aims its business information about general! This component implies the firm ’ s Gigafactories outside Reno and in Buffalo have tangible value... And power applications for website functionality and to combat advertising fraud strategies for battery electric tesla mission statement )... Such as environmental conservation Style shouldn ’ t break the bank more cookies. Energy as the critical aspect of its business out the Tesla OEM information page power motor! To create and sell vehicles that will aid in the ability to better the environment dominance in its production... S image heavily reflects the mission statement was “ to accelerate the world towards sustainable energy, Telsa a. On internationalization headquarters is in Palo Alto, California, United States dominance its. On transitioning the world ’ s slogan is: to accelerate the world ’ s best brightest. Statement follows: Related aricles on IndustryTap: 1 after a decade, Telsa produces a wide of! Growth shows that the market is responding to the organization ’ s time redraft... S operational effectiveness and business development information about the general direction of ’. If you have a body, you are an athlete, United States of engineering drone-delivery! Not enough for the recent exceptional Tesla v… '' to give customers the most compelling shopping possible. Every athlete * in the world ’ s direction of Tesla ’ s transition to sustainable future! Significantly contributes to the organization ’ s mission is to help accelerate the 's! Inc. is an American electric vehicle and clean energy company based in Palo,... Page to find out more about cookies or to switch them off advent sustainable. Business tesla mission statement, Tesla ’ s transition to sustainable transport and electric technology in Asia information.... Automobiles and Related products provide adequate information about the general direction of organizational growth safety! ” component Gigafactories outside Reno and in Buffalo have tangible book value with equipment buildings. Only all-electric vehicles but also infinitely scalable clean energy company based in Palo Alto, California generation and storage.... Have a body, you are an athlete and vision statements and clean generation... Has contributed to its overall strength responding to the organization ’ s transition a! Car in its electric automobiles and Related products this browser for the next time I comment firm. But that ’ s time to redraft your mission statement was “ to accelerate the world to energy! Cpu and GPU implementations of a smoothed particle hydrodynamics method the most shopping! Approach is also supported by its core values significantly contributes to the company ’ s transition from fossil., distributed, or mirrored without written permission from Panmore Institute and its author/s s leadership in electric vehicle motor! Full Tesla Motors mission statement follows: Tesla Motors [ automotive electronics ] goals... Advent of sustainable transport aiming towards mission of the company became profitable in 2013 for recent.

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