Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars , battery energy storage from home to grid scale , solar products and related products and services., Founded in July 2003 by engineers Martin Eberhard and Marc Tarpenning as Tesla Motors, the company’s name is a tribute to inventor and electrical engineer Nikola Tesla. The next three employees were Ian Wright, Elon Musk, and J. B. Straubel, all of whom are named as co-founders of the company. Musk, who formerly served as chairman and is the current CEO, said in 2006 that "the overarching purpose of Tesla Motors...is to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy" and it would build a wide range of electric vehicles, including "affordably priced family cars", and co-market SolarCity solar panels to do so. Tesla acquired SolarCity in 2016., After 11 years in the market, Tesla ranked as the world's best-selling plug-in and battery electric passenger car manufacturer in 2019, with a market share of 17% of the plug-in segment and 23% of the battery electric segment. Tesla global vehicle sales increased 50% from 245,240 units in 2018 to 367,849 units in 2019. In 2020, the company surpassed the 1 million mark of electric cars produced. The Model 3 ranks as the world's all-time best-selling plug-in electric car, with more than 500,000 delivered. Tesla cars accounted for 81% of the battery electric vehicles sold in the United States in the first half of 2020.