Tesla Removes 'Motors' From Its Name
Elon Musk is building an energy company, cars are just a small part of that now.
As soon as Tesla Motors was brought into existence, everyone, including the media, automatically shortened the name to Tesla for convenience. However, now it's officially becoming the company name going forward as CEO Elon Musk decided to ditch "Motors" and opted for "Tesla Inc." instead.
According to Reuters, the name change/shortening highlights Musk's focus for Tesla. It's not just about vehicles, it's about energy. Tesla is a company focused on providing energy products, one part of which happens to be electric cars.
Alongside that, the company is investing heavily in a growing battery production business at the Gigafactory 1. That facility in Nevada will also produce electric motors and gearboxes. And we can't forget Gigafactory 2 proposed for construction in Europe at some point in the near future.
As well as putting batteries in cars, Tesla offers the Powerwall and Powerpack battery packs for home and industrial use. Then we have SolarCity, which Tesla acquired last year and is producing Tesla Glass roof tiles for. Unlike solar panels, these roof tiles make it hard to tell solar energy is being collected.
The new, shorter Tesla Inc. name became effective on Feb. 1. However, a visit to Tesla's website still puts vehicles front and center, and it seems likely that will be the case for some time to come.