It's official - Tesla has a higher value than the combined worth of Toyota, Honda, and Volkswagen together. Thanks to the rapid surge of its stock last week, Tesla is now the most valuable car company in the world, leaving the three automotive industry titans on second, third, and fourth place.
Let's make it clear - Tesla's market cap at the moment is $324.93 billion, while competition Toyota is far back with $176.49 billion, Volkswagen $80.83 billion, and Honda only $45.56 billion. The three together are worth $302.8 billion, which lets Tesla at the leading position on the market.
The number one car company in the world witnessed an unexplainable surge in its value, boosted by 220% since the beginning of this year.
To make the story even more fantastic, we all know that Tesla suffered unpredicted closures of two car production factories in Fremont, California, and Shanghai, China, due to the coronavirus global pandemic.
However, thanks to the advanced technological developments of Tesla vehicles, such as improved battery life and performance, the EV giant surpassed the expectations and predictions of Wall Street.
Tesla's great value goes far beyond its quality as a carmaker but earns even more credits as an industry that stands for healthy Earth free from toxic fossil fuels. The company is also involved in sustainable energy storage and generation focused on changing the world's picture of what a car industry is and what it can/should be.
Tesla's CEO, Elon Musk, is tirelessly working on a complete transformation of the car industry as we know it, pushing the limits with every new technological advance for a better, sustainable, and affordable EV future.
One of the best traits of Tesla is that after releasing the Model 3 in 2017, their cars became budget-fitting for every family that possesses a car. Tesla is no longer a car exclusively for the wealthy, but it's a mass-market game changer, leading towards a greener and safer environment.
The battery technology development and automotive progress are paving Tesla's path towards an even brighter tomorrow.
According to the experts, the company will continue to see new value surges in the years to come, possibly until 2025.
Tesla's advanced electric transportation is expected to reach new heights soon, continuing the rise of the market cap.