Tesla Becomes the Highest-Valued Automaker of the World
Recently, Tesla shares grew 5% to a record of $1,133, expanding the company’s market capitalization to a staggering $209.47 billion nearly $6 billion more than Toyota Motors. Along with that, Tesla is now worth more than the combined value of US automakers General Motors Co and Ford Motor Co. The shares’ swift rise, up more than 163 percent since the start of this year, highlights increasing confidence among investors regarding the future of e-vehicles. After numerous years of losses, Tesla has produced three continuous profitable quarters since the third quarter of last year. Toyota, one of the world’s largest automakers, sold 10.46 million automobiles during its 2019 financial year, ending on March 31, 2020. It reported net revenues of $281.20 billion, during that time. In comparison, Tesla ended 2019 with $24.6 billion in revenues, with 367,200 vehicles delivered. Chief Executive of Tesla Elon Musk said that the company would deliver at least 500,000 vehicles, despite the coronavirus pandemic. The company is expected to report second-quarter delivery numbers at the end of this week. Check out? Tesla Launches New Cheaper Model S and Model X
