Tesla was founded in July 2003 by engineers Martin Eberhard and Marc Tarpenning in San Carlos, California. It was originally named Tesla Motors before being shortened to Tesla, Inc. in 2017. Elon Musk invested in Tesla during its first funding round in February 2004 and became chairman of the board. The company initially focused on developing an all-electric car and released its first vehicle, the Roadster, in 2008. Tesla was named after Nikola Tesla, the inventor known for his work on alternating current electricity.