QUALITY STATEMENT OF TESLA

Tesla, Inc.’s Mission Statement & Vision Statement (An Analysis)

Tesla, Inc.’s (formerly Tesla Motors, Inc.) mission and vision statements
reflect the nature of its prominent all-electric automobile manufacturing and
related businesses. Established in 2003, the company became profitable in
2013. Continued growth shows that the market is responding to the
organization’s automotive and energy storage products. This condition
highlights the appropriateness of the company’s mission statement. In
essence, the corporate mission statement guides Tesla’s strategic
decisions, such as in what the company needs to do in order to achieve
business effectiveness. On the other hand, the corresponding corporate
vision statement shapes Tesla’s direction of organizational growth. For
example, the company aims for leadership as a multinational automotive
business that focuses on electric vehicles. With a strong brand image and
increasing popularity, the company is positioned to succeed in the global
electric automobile market. Satisfaction of the corporate mission along with
the corporate vision serves as an indicator of Tesla’s operational
effectiveness and business development.

Tesla Inc.’s Mission Statement

Tesla’s mission statement was “to accelerate the world’s transition to

sustainable transport.” However, in mid-2016, under Elon Musk’s
leadership, the company changed the corporate mission to “to accelerate
the world’s transition to sustainable energy.” This new statement indicates
a slight but significant shift in the company’s business, to address market
opportunities for renewable energy. In a way, the new corporate mission
recognizes the relevance of the firm’s batteries and related energy storage
products in markets in addition to the electric vehicle market. Tesla Inc.’s
mission statement has the following notable components:

❖ To accelerate
❖ The world’s transition
❖ To sustainable energy
 Tesla Inc.’s Vision Statement

Tesla’s vision statement is “to create the most compelling car company of
the 21st century by driving the world’s transition to electric vehicles.” This
corporate vision emphasizes the company’s focus on renewable energy.
Specifically, the corporation addresses the electric vehicle market as a
major avenue for facilitating growth of the global renewable energy market.
The following components are significant in Tesla Inc.’s vision statement:

❖ Most compelling
❖ Car company
❖ 21st Century
❖ The world’s transition to electric vehicles

In its corporate vision statement, Tesla, Inc. aims to be the most compelling
in the industry. This component indicates leadership and excellence in the
business. The company approaches this aim by integrating advanced
technology in its electric automobiles and related products. On the other
hand, the “car company” component of the corporate vision focuses Tesla
Inc.’s efforts on designing and manufacturing cars. The company’s
leadership in electric vehicle design and production satisfies the
“21st century” component. This component implies the firm’s use of
advanced technology to address current concerns, such as environmental
conservation. The fourth component points to the company’s global goals.
For example, the business continues to expand its operations, with plans
for new factories in developing regions in Asia. Such expansion addresses
major competitors, such as Toyota Motor Corporation, General Motors
Company, Volkswagen, Nissan Motor Company, Honda Motor Company,
and BMW (Bavarian Motor Works), among others, considering the
competitive landscape described in the Porter’s Five Forces analysis of
Tesla Inc. Thus, in this business analysis case, the company’s vision
statement reveals the organization’s aim to be the dominant player in the
global electric vehicle market.