The company's business model represents the core of its activity and includes all the elements that the company needs to gain a competitive advantage in the market. The aim of this paper is to present the theoretical knowledge about business models and then to analyse the application of the business model concept using the example of a company. This paper will examine and analyse the business model of Tesla, Inc. a leading electric vehicle manufacturer and clean energy company. The paper is based on a theoretical overview of business models, including definitions, elements and different approaches to analysis. Using a qualitative approach and secondary data, the fundamental components of Tesla's business model, such as strategy, strategic resources, finance and operations, are analysed. The paper pays special attention to Tesla's innovative approach in developing and applying the business model. The research findings show that Tesla's business model is successful due to its innovation, vertically integrated value chain, strong sustainability-focused mission and vision, and effective utilisation of strategic resources such as advanced technologies and proprietary software, but also faces certain challenges. The advantages of the model include vertical integration, direct sales and the focus on technological innovation, while the disadvantages are related to production quality and financial sustainability.