You work as a financial advisor for Tesla Inc., a global electric vehicle manufacturer. The company's significant international operations expose it to foreign rate fluctuations. Investigate the three types of exposures mentioned in the textbook. Then recommend appropriate financial instruments to protect Tesla from exchange rate risks.

Use scenarios from the last three years to strengthen your analysis and emphasize risk mitigation's importance. Engage with your peers by comparing how you would hedge exchange rate exposures. Discuss the potential implications for Tesla's financial performance.