Named after one of the most important inventors of all time, Tesla Motors began its operation in 2003. As a producer of electric sports car based on the Lotus architecture, Tesla showed the world that the electric drive was feasible. Designing and constructing electric vehicles, Tesla became one of the most famous electric car producers. Tesla develops electric sedans, electric SUVs and electric sports cars. As its cars use some parts derived from Mercedes vehicles, Tesla is regarded as a premium car manufacturer. Its headquarters are based in Palo Alto and its CEO is a well known businessman Elon Musk.