Tesla's Electric Rise in Value

Tesla's Electric Rise in Value

Foto: Depositphotos

Electric carmaker Tesla reached a market valuation of over $270 billion in August. That has propel them over $70 billion more in valuation when compared to top global carmaker Toyota to be the most valuable carmaker in the world. Tesla trailed the Japanese car manufacturer Toyota earlier in the year, which has held a steady market cap around $200 billion throughout the pandemic.

At the beginning of the year, Tesla had an astronomical rise in market valuation, more than doubling its stock value over the first three months. The surge was attributed to Tesla’s third-quarter profit from last year, as well as new factories being built and quick car deliveries to customers. Tesla has also led the pack in electric car manufacturing, infrastructure and marketing, a growing market that all car manufacturers are looking to fill as quickly as possible. Still, Elon Musk's unicorn is still perplexing many analysts, leaving many scratching their heads as to why the company continues to balloon in value.

The second-closest U.S. car manufacturer in market valuation is GM, followed by other car manufacturers like Ford and Fiat Chrysler. However, while Tesla and Toyota have rebounded from losses sustained at the beginning of the COVID-19 crisis, these manufacturers are still well below where they started at the beginning of 2020, hovering around $20 to $30 billion in market cap.

More from category

AT&T and Verizon Pay $116 Million in Overcharging Settlements

AT&T and Verizon Pay $116 Million in Overcharging Settlements

27 Sep 2020 comment

US mobile operators AT&T and Verizon agreed to pay a combined $116 million to settle a lawsuit over claims they overcharged hundreds of government and education customers for mobile services.

HT Offers Premium Smart WiFi

HT Offers Premium Smart WiFi

26 Sep 2020 comment

By introducing Premium Smart WiFi equipment in its offer, Hrvatski Telekom said wants to provide its customers with perfect signal coverage in every part of their apartments, houses or suites.

EC Will Take €13 Billion Apple Tax Case to EU's Top Court

EC Will Take €13 Billion Apple Tax Case to EU's Top Court

26 Sep 2020 comment

After losing a hearing earlier this year, the European Commission announced it would take tax claim against Apple to the European Union’s top court.