(TSLA), creates, manufactures, and sells completely electric cars (EVs), as well as energy production and storage technologies. Additionally, the business offers services through auto body shops, charging stations, and car servicing facilities. Midsize, full-size, and compact sports utility vehicles are all produced and sold by Tesla.
Tesla left its longstanding residence in Palo Alto, California, and relocated its corporate offices to Austin, Texas, in 2021. Elon Musk serves as the company's CEO. For the purposes of investment, Tesla's stock is categorized within the consumer discretionary category. The top rivals of Tesla include well-known manufacturers like Ford Motor Co. (F) and General Motors Co., located in China (NIO). Tesla reported $5.6 billion on revenue of $53.8 billion for the fiscal year that concluded on December 31, 2021.
Musk made the announcement on Twitter that Tesla will no longer accept Bitcoin as a form of payment for its automobiles. He cited worries about the fast expanding consumption of fossil fuels for Bitcoin mining and transactions as the reason for his decision.The chief executive officer of the business said that it will most likely restart taking Bitcoin, pending the completion of due diligence to establish that the percentage of renewable energy utilized in the production of Bitcoins.
Tesla's stock has already been divided once. It carried out a 5-for-1 split of its ordinary shares as of August 31, 2020. As previously disclosed, the Company intends to seek shareholder permission to raise the number of authorized shares in order to effectuate another stock split, with no specific timing or ratio at this time.
Tesla had approximately 1.13 billion shares outstanding as of Q1 2022.
At its annual meeting conducted after the closing of the markets on August 4, 2022, Tesla, Inc. (TSLA) shareholders voted in favor of a 3-for-1 split of the company's common stock, according to a preliminary count made public at the meeting.