In January 2008, former Tesla CEO and co-founder Martin Eberhard officially left the company. January 2008: Out with the old CEO Stock Price: Pre-IPO His primary task was to bring the already-delayed Roadster to market by Q1 2008. At the end of November 2007, Israeli engineer Ze’ev Drori was tapped to helm Tesla. Marks didn’t last long in the role, stepping down just a few months later. November 2007: Ze’ev Drori took over Stock Price: Pre-IPO He was briefly succeeded by early Tesla investor Michael Marks. He remained on the company’s advisory board and moved to the role of President of Technology for a short time. Tesla co-founder Martin Eberhard resigned as CEO at the request of the Board of Directors. Two months later, Musk published “ The Secret Tesla Motors Master Plan (Just Between You and Me).” The company’s long-term mission: “To help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy,” heralded by “a wide range of models, including affordably priced family cars.” August 2007: Eberhard resigned Stock Price: Pre-IPO August 2, 2006: Tesla created its “Master Plan” Stock Price: Pre-IPO The then-expected release date was sometime in 2007. The original Tesla Roadster used a lithium-ion battery pack and boasted a driving range of nearly 250 miles.Ĭustomers-including a few famous names like George Clooney-laid down $100,000 to secure one of the first units in production. Tesla revealed its first prototype in Santa Monica, California to an invitation-only crowd of 350 people. WireImage July 19, 2006: The Roadster was revealed Stock Price: Pre-IPO Musk would later champion a fourth funding round in May 2007, bringing total private financing to $105 million. Series B raised $13 million and added Valor Equity Partners to the funding team, previously composed of Musk, Compass Technology Partners and SDL Ventures.Ī few months later, Musk co-led the Series C round, raking in $40 million from prominent figures like Google co-founders Larry Page and Sergey Brin, JPMorgan Chase’s Bay Area Equity Fund and former eBay president Jeff Skoll. 2006: Tesla Motors secured major funding Stock Price: Pre-IPOĪfter two years of strategizing and tinkering, Elon Musk spearheaded two new rounds of funding. Musk’s contribution-and interest-compelled him to join Tesla’s Board of Directors as chairman. But the famous entrepreneur didn’t join up with Tesla until 2004, when he contributed $6.5 million in initial funding. Nowadays, it’s hard to separate the mercurial Elon Musk from Tesla’s image. 2004: Elon Musk invested in Tesla Motors Stock Price: Pre-IPO Their ultimate goal: to engineer and mass produce a 100% electric vehicle (EV) that refused to compromise on mileage or comfort.
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