Elon Musk’s electric vehicles are a great success. Tesla has just dethroned Volkswagen : the company’s capitalization has reached a record level, surpassing the $100 billion mark.
By Luxus Plus
A few months ago, we learned that Tesla was becoming the world’s leading electric car manufacturer. The company had managed to market more vehicles than its main Chinese competitor BYD. Today, the brand has just broken a new record by taking second place on the automotive stock market.
Tesla took second place on Wednesday, which had previously been held by German carmaker Volkswagen. Tesla now weighs more on the stock market than General Motors and Ford combined ($50 billion and $40 billion respectively for the two manufacturers).
Far ahead is Toyota, with an estimated market value of $230 billion, but Tesla shares are currently worth $569.56 and have risen 4.2% in a single day. Less than a month ago, the same shares were selling at $420 each.
Elon Musk’s company is doing very well even though Tesla’s electric vehicle sales are not as strong as those of its competitors. The new Model S Plaid, which will be released this year, should strengthen Tesla’s position. And the Cybertruk, a crazy project because the design of the vehicle is so old-fashioned, should also be a hit, as the famous automotive consultant Sandy Munro recently explained.
Read also > Tesla market value zooms past that of GM and Ford combined
