Tesla, Inc. is an American company for electric cars and clean energy based in Palo Alto, California. Tesla's current products include electric cars, home-to-wall battery storage, solar panels and solar roof board, as well as other related products and services. Tesla has been ranked as the world's best-selling electric and battery passenger car company, with a market share of 16% of the plug-in segment and 23% of 2020 battery sales. Through its SolarCity subsidiary, Tesla is developing the main solar pv system installed in the United States. Tesla is also one of the world's largest suppliers of battery storage systems, with 3 gigawatt hours of battery storage available in 2020. was founded in July 2003 as Tesla Motors, and the company name is a tribute to inventor and electrical engineer Nikola Tesla. Elon Musk, who contributed most of the funding in the early days, has served as CEO since 2008. According to Musk, Tesla's purpose is to help accelerate the transition to sustainable transportation and energy, obtained through electric vehicles and solar power. Tesla began producing its first car model, Roadster, in 2009. This was followed by the Model S sedan in 2012, the Model X SUV in 2015, the high size model 3 sedan in 2017, crossover Model Y in 2020. The Model 3 is the world's best-selling electric car, with over 800,000 delivered by December 2020. Global Tesla car sales reached 499,550 units in 2020, an increase of 35.8% over the previous year. In 2020, the company surpassed the 1 million electric cars produced.