Business Technologies for the Century – The Story of Elon Musk

The name Elon Musk resonates well in space and technological circles around the world. He has a current net worth of $ 151 billion and comes second in Forbes ranking to e-commerce giant Amazon founder Jeff Bezos. Let’s look at some of his inventions and innovations that have pushed him to the international limelight.

Tesla

Tesla is a world leader in championing sustainable energy in electric cars, solar and integrated renewable energy solutions for businesses and homes. The fully electric vehicle is what separates Tesla vehicles from other hybrid models in the market today. With the world’s move towards environmental sustainability, Tesla vehicles employ simple technologies like charging any other device and using it off-grid. The electric car battery consists of thousands of cells made with innovative heating technology that guarantees effective functioning even in the coldest weather.

The Tesla battery powers a small-sized motor that generates electricity by conversion of mechanical energy to electricity. The electricity moves the vehicle, and it’s far more efficient than combustion engines in other vehicles. You save on gasoline costs and drive with zero emissions, covering over 300 miles on an hour’s charge.

Tesla hit a $1 trillion valuation, and it became the second-fastest company to hit that milestone after Facebook. The success of Tesla is its philosophy of environmentalism, reported by the Washington Post. The business Insider report shows a growing demand for electric vehicles. Tesla expected to sell close to 1 million cars by the end of this year and a projected 50% annual growth in the future.

SpaceX

SpaceX is a major player in aerospace technology, space transportation, and communication. The goal is to reduce space transportation costs and enable man to visit and colonize other planets like Mars. Space exploration had recently been under dominance by NASA, which had the technical capability to undertake space projects.

The entry of SpaceX into space exploration revolutionized the sector to catch the attention of NASA. SpaceX got a tender worth $278 million from NASA for the Dragon spacecraft for the International Space Station (ISS) cargo runs. The Dragon spacecraft is the first reusable type in space transportation which saved costs to NASA.

SpaceX awarded a 2.9 billion contract to make a human landing system for spacecraft flights to the moon in April this year.

The success of SpaceX comes from an inspiring vision and clear purpose by Elon Musk and its ability to win the trust of NASA – its largest customer.

Elon Musk is the man to watch in the coming years in space exploration and electric vehicles.

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