Tesla Motors was founded in July 2003 by Martin Eberhard and Marc Tarpenning as a tribute to inventor and electrical engineer Nikola Tesla. Elon Musk (co-founder of X.com) became the company’s largest stakeholder and chairman in February 2004 after investing US$6.5 million. Since 2008, he has been the company’s CEO. Tesla’s mission, according to Musk, is to help accelerate the transition to sustainable transportation and energy, Tesla is an American electric vehicle and clean energy company based in Palo Alto, California. The company has announced that its headquarters will be moving to Austin, Texas. In addition to electric vehicles, Tesla also manufactures products and provides services related to battery energy storage, solar panels and solar roof tiles. According to sales figures from 2020, Tesla is the leading manufacturer of both battery-electric and plug-in electric vehicles, accounting for 16 percent and 23 percent of the respective markets.