tesla

Elon Musk has added another glorious chapter👍 to his long impressive list of achievements.

His electric vehicles (EVs) manufacturing company🏭, Tesla has now overtaken its Japanese rival Toyota to become the world’s most valuable auto company😎.

It came as Tesla’s share price rose📈 to $1,100, on Wednesday, giving the company valuation of $209bn, which is $4 billion more than that of its Japanese rival Toyota.

Notably, Tesla is now worth 💪more than triple the combined value of fellow US automakers, Ford and General Motors.

A curious case!

Tesla becoming the world’s most valued automaker is truly remarkable because of the staggering fact that ☝️it has never made a profit till date.

In 2019, it had a revenue💰 of nearly $25 billion (Rs. 1.75 lakh crores) with a loss of over $860 million.

Then what makes it ‘‘the star’’?

Tesla’s share price has risen sharply since the start of 2020🗓️.

It has come on the back of growing confidence😊 among investors about the future of electric vehicles.

As per analysts, the coronavirus pandemic could even accelerate the speed⏩ at which the world makes a switch over to cleaner fuels and adopt EVs.

This sentiment puts Tesla firmly in a very strong position✌️ as it is significantly ahead of its rivals in product range, capacity and technology.

Hopes are also high on a so-called “million-mile” battery🔋 being worked on by Tesla’s Chinese supplier, CATL.

It is being said that it will last up to 16 years and will significantly lower the cost🤑 of electric vehicles.

By admin

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