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Tesla Was Started Not To Make Money- Elon Musk

Published

8 years ago

June 9, 2017

#tesla, tesla, elon musk, elon musk tesla, startupstories, startup stories india, startup stories, tesla motors inc, elon musk says tesla was started not to make money, elon musk about tesla, #elonmusk

In a series of Tweets, real life Iron Man, Elon Musk revealed his main reasons behind starting the energy storage company and solar panel manufacturing company, Tesla.

Few people know that we started Tesla when GM forcibly recalled all electric cars from customers in 2003 & then crushed them in a junkyard

— Elon Musk (@elonmusk) June 9, 2017

In his Tweets, he revealed Tesla was started after General Motors forcibly recalled all the electric cars from customers in 2003 to be crushed in a junkyard. He went on to say how GM recalled all the cars against the will of the owners who also held a candlelight vigil all night to protest the death of their cars. He explained, creating a company specifically for electric vehicles was the only way to have electric cars as big companies were all killing their electric vehicle programs.

Musk also revealed that making money and government incentives played no part in his decision whereas there was a 90% probability of losing all of the money invested. His reveal comes after Tesla officially joined the Fortune 500 list with a revenue of $7 billion with a 73% spike in sales since last year.

Elon Musk has always been an advocate for environment friendly campaigns. He recently quit his role as the adviser to US President Donald Trump after the President’s decision to leave the Paris Climate Accords.

Apart from Tesla, Elon Musk is also the CEO of SpaceX a private sector rocket company that carries satellites into orbit.

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Latest News

Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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3 days ago

May 30, 2025

Kontham Abhishek

The National Company Law Tribunal (NCLT) Bengaluru bench has dismissed an insolvency plea filed against quick commerce startup Dunzo by its invoice discounters, declaring the petition “not maintainable” after several postponements. This decision offers temporary relief to Dunzo, which has been facing multiple insolvency petitions from various creditors, including Velvin Packaging Solutions and Betterplace Safety Solutions, over unpaid dues.

The invoice discounters alleged that Dunzo had paid only 50% of the required amounts, though the exact sum was not disclosed. Despite ongoing settlement talks, no resolution was reached, and the tribunal noted Dunzo’s delays in responding to creditor petitions. Dunzo continues to grapple with severe liquidity issues, delayed payments, and significant losses—reporting a ₹1,801.8 crore loss in FY23 and owing approximately ₹11.4 crore to major vendors like Google India and Facebook India.

While this NCLT ruling provides Dunzo some breathing room, the company still faces ongoing financial and operational challenges as it works to resolve its outstanding liabilities.

Latest News

How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

Published

3 days ago

May 30, 2025

Kontham Abhishek

Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”

Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.

Inverstors Stories

Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

Published

5 days ago

May 28, 2025

Kontham Abhishek

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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Latest News

Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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Latest News

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How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

Adopt AI Secures $6 Million to Power No-Code AI Agents for Business Automation

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