It is not to be confused with Nikola Tesla electric car hoax. Tesla, Inc. (formerly named Tesla Motors) is a major American automaker, energy storage company, and solar panel manufacturer based in Palo Alto, California. The company was initially founded in 2003 by Martin Eberhard and Marc Tarpenning, although the company also considers Elon Musk, JB Straubel, and Ian Wright amongst its co-founders.