
Tesla's R&D spending 2010-2024
Tesla's research and development spending increased to over 4.5 billion U.S. dollars in 2024. The intensity of investment in recent years has made Tesla the leading electric vehicle manufacturer in the United States. Globally, the company sold around 1.8 million vehicles in 2024.
Tesla’s strategy
Tesla distinguishes itself from its domestic competitors by focusing on electric vehicles. It is currently one of the leading companies globally for electric vehicle sales and has even tapped into the luxury car market. Tesla's vehicles had some of the best battery ranges in 2024. To a certain extent, Tesla increased R&D efforts to also enhance battery quality and range for their electric vehicles.
The path forward
Tesla was among the global brands with the highest brand value as of October 2024. At the end of 2020, common stockholders saw positive returns on their investments for the first time. The company continues to expand its model range throughout 2023 and 2024, with its Cybertruck model hitting the road in late 2023.