After their acquisition of SolarCity, Tesla has officially decided to drop the word “Motors” from their brand name as reported by Automotive News. Though the move seems hardly significant, it allows the company to separate from solely manufacturing cars to becoming a sustainable energy provider. This comes after their decision to create Tesla Energy, a branch of the company that focuses on renewable energy facets.
The move comes as part of Tesla CEO Elon Musk’s plan to diversify the brands capabilities. He’s never been known to settle on one thing, so the decision makes sense. Expanding Tesla’s market makes it possible for them to dabble in a variety of fields while of coursing sticking to car production. “I think the tide of history very strongly supports … a sustainable energy future — primarily solar, and almost virtually entirely electric vehicles. And there will be things that temporally interrupt that tide of history, but in the long term it will overwhelm everything — and our goal is to accelerate the advent of that future as fast as possible,” said Musk in a statement. The California based company aims to produce 500,000 units annually by 2018, so that affirms their dedication to vehicle manufacturing.
This is a subtle hint at what Tesla could become. Without making a mountain from a molehill, it speaks for the potential growth of the company. Their business model has grown from their comparably minute production of Tesla Roadsters to three unique models once the Model 3 is released this summer. Once it makes its debut, the Model 3 alone is set to skyrocket the company’s sales by introducing them into a new affordable demographic. As things compound, Tesla keeps making even bigger moves to expand their services.
