Tesla Tops Forbes’ World’s Most Innovative Company List – (w/video)
Tesla took number one on Forbes’ list of the most innovative companies for the second consecutive year. The Palo Alto company was founded in 2003 by Martin Eberhard and Marc Tarpenning, under the name of one of the world’s most prolific physicists and electrical engineers, Nikola Tesla. Later, J.B. Straubel, Ian Wright, and the now infamous Elon Musk joined rank.
Tesla, with just over 13,000 employees, had a market cap of $29.5 billion as of September 2016. The company showed revenue of $4.05 billion for 2015. Tesla appears on several other Forbes’ lists:
#1 Innovative Companies
#1,568 Global 2000
#1,952 in Sales
#306 in Market value
#113 America’s Best Employers (2015)
While Tesla showed a loss of $888 million just last year, many analysts believe that short term losses and setbacks do not point to long term failure. Instead, the high market cap proves that it is expected that Tesla will be very profitable.
As explained by CEO Elon Musk, the company started at the high end and is now working toward more affordable vehicles, as well as improved cost per vehicle. Just the recent addition of a more affordable Model S has shown this concept working. With the much more cost-effective Model 3 on the way, and over 400,000 pre-orders in the books, the company’s success should prove imminent.
The two greatest factors contributing to Tesla’s success are unmatched innovation and committed, highly involved leadership. Musk has shared:
“I move my desk around to wherever the most important place is for the company and then I sort of maintain a desk there over time to come and check in on things.”
This coming from the same man who has put his sleeping bag at the end of the Model X assembly line and dealt with quality concerns himself. In terms of innovation, it is completely fair to say that there is no other automaker currently doing what Tesla is with long-range battery-electric vehicles. Not to mention its one of a kind direct sales model, or the fact that it is now also complete as a home energy company, and let’s not forget the unparalleled Gigafactory.