Tesla shoots its share to more than $ 1,000 and becomes the automaker with the largest market capitalization

Tesla

In early May of this year, when Tesla stock was hovering just over $ 750, Elon Musk commented that in his opinion the price was too high. A month later, this figure has been far exceeded to $ 1,000 a share . As a consequence, it is already the most valuable automaker on the market, eventually beating Toyota.

Tesla Semi truck goes into production

About three years ago Tesla unveiled its Semi truck . A beast with 640 kilometers of autonomy and the ability to accelerate from 0 to 100 km / h in 5 seconds, among other things. Now the automaker is going to start mass production . This has been indicated by Elon Musk in an internal note to his employees that has been leaked to the media .

The Tesla Semi has so far been produced in a limited quantity . According to Elon Musk in the internal note for employees, this has allowed improving aspects of the truck’s design. The battery and some other parts will be produced at the Sparks Gigafactory in Nevada, USA. The note unfortunately doesn’t give an exact date when production will start or where the final truck will be assembled.

Tesla Semi

Shares at $ 1,000 and a market capitalization of $ 190 billion

Is this internal note real? It appears that yes, Elon Musk himself has subsequently confirmed that the leak is real. This has been more than enough for all alarms to go off on Wall Street and Tesla’s stock to rise to more than $ 1,000 a share. At the moment the stock is already going for $ 1,025.05, with an increase of almost 9% in the last hours . With how bad it has been in recent years.

Tesla

As a result, Tesla’s market capitalization (company value based on stock value) has risen to more than $ 190 billion. This places Tesla directly as the most valuable car brand in the world , beating Toyota which is worth just under $ 180 billion. In third place and already far away is Volkswagen at about 85 billion dollars. By playing more with the numbers, Tesla is already worth more than Volkswagen, Honda and Daimler together. These three manufacturers occupy third, fourth and fifth place with brands such as Audi, Porsche or Mercedes among others.

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The comparatives are of course somewhat subjective. Tesla as such has a significant development in other areas such as energy or technology itself. But of course, its main income already comes from the sale of cars, so in a sense it fits within the category of car manufacturers. On the other hand, we must bear in mind that the COVID-19 has affected considerably other manufacturers, Toyota for example has lost a significant value since the beginning of the year. Others like Nikola Motors are coming .

Track | Reuters and Top 25 Automakers

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