Tesla bought the rights to the company name in 2004 for 75,000 dollars from a man named Brad Siewert, who had already had it protected in 1994, Elon Musk now revealed. At first, the man did not want to sell the rights.
To get over the resistance, Musk said he sent the “nicest guy” to see Siewert until he finally agreed. If he hadn’t been willing to sell the rights, Tesla would be called Faraday today, Musk added.
But history has another electric car startup called Faraday Future has been trying for years now, largely unsuccessfully, to compete against Tesla.