• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, June 13, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Future Tech Electric Vehicles

Tesla’s journey from nearing bankruptcy to becoming the largest automaker in the world

by Reshab Agarwal
November 4, 2020
in Electric Vehicles, Future Tech, Trending
Reading Time: 2 mins read
0
Tesla’s journey from nearing bankruptcy to becoming the largest automaker in the world
TwitterWhatsappLinkedin

You might also like

ED Raids 24 Locations in Rajasthan, Gujarat Over ₹2,700 Crore Nexa Evergreen Scam

FlexiLoans Raises ₹665 Crore in Six Months, Welcomes BII as New Investor

HDB Financial Services Eyes ₹12,500 Cr IPO by Mid-July: Biggest Listing of 2025

You know Tesla for what it is now, but the journey of the largest automaker in the world is something to take inspiration from. Tesla’s Journey “from rags to riches” has been nothing short of phenomenal. The company was on the verge of bankruptcy on Nov 3, 2008, but it somehow managed to secure a $40 mn loan. And you know the result and what has become of the company now.

It is really great to see Elon talking about the struggles he faced,  the sacrifices he made and the problems he needed to overcome. I am sure as Elon says that their funding round was completed on Christman eve, the Christmas of 2008 must have been wonderful.

Tesla’s struggle

Tesla secured the $40 Mn loan in terms of convertibles that it utilised to manufactured its electric Roadster sports car. By referring an article from 2008, we found out that Elon said that they didn’t actually need $40 Mn. But, their board believed that having a cash reserve for the future will be beneficial for the company.

Tesla's journey began with the Roadster
Tesla Roadster|Image Source: Wikipedia

After they received the loan, Tesla launched its first electric sports car, Roadster. The starting price of the vehicle was $109,000. It’s said that the vehicle became a symbol of risks that new tech brings and also the belief in electric cars.

Even after launching a great vehicle for the time and having received over 1200 orders, the company could deliver only 50 vehicles. It ran into multiple problems with the production like that transmission that caused huge delays. This led Elon to cut down 24% of Tesla’s task force and also paused the development of the Electric Sedan. It was later launched as the Model S.

Tesla’s growth

Tesla's journey

From then to now, we have seen how the company has developed both in terms of production and development. Tesla has grown multiple folds and has actually been on the journey from rags to riches. The company that was struggling to deliver 1200 vehicles in 2008 is now making record deliveries in 2020.

And even now the deliveries of tesla is not demand constraint but production. So, as the production capacities of the company increases that Elon talked about in the “Battery day event” it will register even more boost. As Elon said, Tesla’s new production methods will reduce the production cost by 76%, and there will be 0% wastewater. This method is much more scalable and improves battery productions too.


What are your thoughts on Tesla’s Journey? And do you guys find it inspiring? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Tesla battery day Event live blog: All updates

Tweet54SendShare15
Previous Post

How to get free Disney+Hotstar with Airtel plans?

Next Post

Social gaming platform Tamasha.live raises Rs. 2.5 Cr Seed funding from Firstcheque, Snapdeal, 9Unicorns and Titan Capital

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

ED Raids 24 Locations in Rajasthan, Gujarat Over ₹2,700 Crore Nexa Evergreen Scam

by Rounak Majumdar
June 12, 2025
0
ED Raids 24 Locations in Rajasthan, Gujarat Over ₹2,700 Crore Nexa Evergreen Scam

The Enforcement Directorate (ED) launched a massive crackdown on Thursday, raiding 24 locations across Rajasthan and Gujarat in connection with a ₹2,700 crore money laundering case linked to...

Read more

FlexiLoans Raises ₹665 Crore in Six Months, Welcomes BII as New Investor

by Ishaan Negi
June 12, 2025
0
FlexiLoans Raises ₹665 Crore in Six Months, Welcomes BII as New Investor

FlexiLoans, a leading digital lender focused on MSMEs, has raised ₹665 crore in six months, with British International Investment (BII) joining as a new investor. The fintech aims...

Read more

HDB Financial Services Eyes ₹12,500 Cr IPO by Mid-July: Biggest Listing of 2025

by Ishaan Negi
June 12, 2025
0
HDB Financial Services Eyes ₹12,500 Cr IPO by Mid-July: Biggest Listing of 2025

In this article, we will explore HDB Financial Services’ massive IPO plans, the strategic context behind the move, and its broader significance for India's financial markets. We will...

Read more
Next Post
Social gaming platform Tamasha.live raises Rs. 2.5 Cr Seed funding from Firstcheque, Snapdeal, 9Unicorns and Titan Capital

Social gaming platform Tamasha.live raises Rs. 2.5 Cr Seed funding from Firstcheque, Snapdeal, 9Unicorns and Titan Capital

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?