Tesla is an electric car company based out of Palo Alto, California. Although only founded in 2003, the company has received widespread attention for the innovative design of the fully-electric Tesla Roadster.

The Roadster is the first production vehicle to use lithium-ion batteries, as well as the first to achieve over 200 miles per charge. In addition, the car achieves a 0-60 in less than four seconds. It retails for about $100,000 after a government tax credit, and Tesla has sold over 1,000 units thus far.

Tesla's early success and technological breakthroughs have earned the company recognition among the bigger automakers. As part of Tesla's business plan moving forward, they will develop and sell electric technology to larger manufacturers for use in all-electric vehicles.

The other half of Tesla's future business strategy is the development of the Model S platform. This platform will first be used on the upcoming Model S flagship sedan, and the company hopes that as it grows it will be able to add minivans and crossover SUVs to its fleet.

Tesla recently announced its highly-anticipated initial public offering, which the company hopes will raise upwards of $167 million from the sale of its stock. It has already received support from Daimler AG, Toyota and government loans to continue developing its technology.

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