"Tesla" is now the company's name. Tesla Motors is dropping the word "motors" from its name. The change is small but highly symbolic, reflecting the direction the company is heading.
Why is Tesla dropping the word "motors"
Where does this change come from? Simply put, the company is no longer focused solely on car production. Although vehicles are its most recognizable product, they are not the only one. One of its new offerings is "SolarCity" — solar panels for single-family homes.
Car sharing and autonomous driving
The company also plans to expand into areas such as car sharing, developing systems for autonomous driving, and broadening its range of car models.
Gigafactory and solar panels
One of the major challenges is completing the construction of Tesla's massive Gigafactory, scheduled to be delivered for use next year. Solar panels installed on its roof are expected to generate over 35 gigawatts of electrical energy.
Summary
Tesla Motors shortens its name to simply "Tesla" because car manufacturing is now just one part of its operations. The company is expanding into residential solar panels under the "SolarCity" brand, working on car-sharing solutions, autonomous driving systems, and planning to broaden its car lineup.
The key project remains completing the massive factory, set to be operational next year. Solar panels installed on its roof will generate over 35 gigawatts of electrical energy.
