Tesla Becomes The World’s Biggest Car Company

Tesla

Elon Musk (Owner of Tesla)

Tesla overtook Toyota for being the most valuable car manufacturer as Tesla’s stock jumped sky-high on Wednesday valuing the EV car manufacturer at more than $208 Billion which makes it the most valuable car company on the planet.

Key Points

  • Tesla stock has risen 17% this week and on Monday it closed just above $1000 per share for the very first time in Tesla’s history and on Wednesday it hit a record-breaking high of $1,135 per share.
  • Tesla is now the world’s biggest car company with a net worth of more than $208 Billion.
  • The electric-car manufacturer has now overtaken Toyota- its main competitor which has a value of $203 Billion.
  • Tesla is now worth many of its competitors combined, such as Fiat Chrysler which is valued at $20 Billion, Ford which is valued at $24 Billion, Ferrari which is valued at $32 Billion, General Motors which is valued at $36 Billion, BMW which is valued at $41 Billion, Honda which is valued at $46 Billion, and Volkswagen which is valued at $74 Billion.
  • Tesla’s share has been doubled so far in 2020

Deviation

While Tesla has surpassed Toyota for being the most valuable car manufacturer, there are some key metrics in which Toyota is better than Tesla. Toyota produces way more cars than the EV manufacturer.

Additional Fact

Due to the rise of Tesla’s stocks over 110% in the second quarter of 2020, the co-founder and CEO of the company Elon Musk’s net worth has risen from $24 Billion to $46 Billion

Also Read: Tesla Model S 2020 Review

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