Tesla enters the candy market

When the co-founder and CEO of car and clean energy company Tesla Elon Musk underlined his plans to enter the candy market in his Telsa Mag newsletter last month, many thought it was a hoax. But even though the Silicon Valley billionaire’s move into the confectionery may seem an unconventional one, it’s true. “Tesla’s foray into the candy industry might seem unexpected, but it fits within Elon Musk’s penchant for innovative and sometimes whimsical business decisions,” Tesla said of the move. So, where has the idea come from? The firm hints that its entry into candy may be part of its bigger strategy to grow and diversify the brand and appeal to a wider audience base, by leveraging its existing global brand identity. Plus, Tesla’s move into candy isn’t actually a new plan. “When Elon Musk announced via X (formerly known as Twitter) that he wanted to start a candy company in 2018, it felt like one of those thoughts that people post to social without really thinking about it,” says Candace Huntly, Founder of Songbird Marketing. Back then, it could have been mistaken for an idea rather than the potential rumblings of a new business plan. “That’s the beauty of social media, after all, the randomness of it all,” Huntly notes. Growing momentum in 2024 But now, with applications filed to the United States Patent and Trademark Office (USPTO), it seems that Musk might have meant it. Tesla’s applications cover four new candies: supercharged gummies , mango bolt , cyberberry and dog mode chill. Two of these trademark applications were filed on June 25 and the other two were filed on June 28. However, at the time of publication, these were all awaiting examination and so none had yet been assigned to a trademark lawyer to review and approve. However, sceptics may dismiss these applications as a low risk toe-in-the-water move. “These applications don’t include any sort of information about the candy, nor have we heard anything about actual plans to make and launch the product,” says Huntly. M ore candy details emerge Yet, in the same week that Tesla confirmed its progression from thought to trademark, signalling an increased level of seriousness in pursuing candy product development, Tesla confirmed its plans for candy entry, too. On July 16, in the official Tesla magazine, the brand announced it had made what it acknowledged is a “surprise move into the confectionery market”. It highlights how its candies display a playful and bold approach to the candy industry and how this is a step away from its usual high-tech and automotive-focused activities. The brand is merging its reputation and position in the car and clean energy space with candy rather than keeping the two separate. Big on flavour, character, and marketing, the four candies give a strategic nod to other areas of interest for both Tesla and Musk. Is product development imminent? “Whether these trademark applications will lead to actual product launches remains to be seen,” Tesla teases. “However, the buzz created by the filings indicates that there is significant interest in Tesla’s potential expansion into the confectionery market,” the company continues. But can Tesla actually deliver something that resonates with consumers beyond being a piece of brand merchandise? “Since Tesla isn’t a confectionery brand, it might be too far out of their lane to make sense,” says Huntly. “So the brand is going to need to do some leg work to establish itself as a confectionery brand if they want to compete,” Huntly adds.

Tesla enters the candy market

He’s disrupted the car, space and social media sectors, is Elon Musk now coming for the confectionery industry?

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