On Wednesday, Tesla Inc became the world’s highest-valued automaker as their shares skyrocketed at record-high. Tesla’s market capitalization overtook the previous crown holder Toyota Motors Corp.
Reportedly, Tesla has gained 5% during the morning trade at a record of $1,133, which boosted the electric car maker’s market cap to an unbelievable $209.47 billion.
Tesla has now gained an approximately $6 billion gain on Toyota. Moreover, Tesla is now worth three times the value of General Motors Co and even Ford Motor Co.
Overall, Tesla’s shares have jumped by a whopping 163% since the start of 2020, and more confidence has grown amongst the investors in regards to the bright future of electric vehicles, which is the brand’s niche.
Tesla has had some ups and down with many losses along the way if we summarize the past couple of years altogether. However, the third-quarter of 2019 came as a pleasant surprise; investors reported a decent umber of first-quarter deliveries despite the global coronavirus pandemic.
Before Tesla, Toyota has been dominating the automotive market by being one of the world’s most profitable auto manufacturers as it sold 10.46mn units of cars in 2019. Reportedly, it generated $281.20 billion during the fiscal year.
Whereas on the other hand, Tesla generated total revenue of $24.6 billion by delivering 367,200 units. Tesla’s Chief Executive Elon Musk has said that the automaker targets to hit the 500,000 targets for 2020, despite the pandemic.
Tesla will be sharing its reports for the second quarter later this week.
Tesla’s Cyber Truck
The Tesla Cybertruck became a worldwide viral hit after founder Elon Musk displayed the on its debut day. But, what people remember from the launch event was how the windows of the truck smashed!
The vehicle was first struck with a sledgehammer in what appeared to be a successful demonstration of its armor body’s strength.
But, that had caused an unseen crack which had subsequently led to the windows smashing when they had been hit with a steel ball.
The automaker already released the specs for the truck. It is going to be available in three options:
- Single Motor RWD with 250 miles, 3,500 lbs payload capacity and 7,500 lbs of towing capacity – for $39,900
- Dual Motor AWD with over 300 miles, 3,500 lbs payload capacity and 10,000 lbs towing capacity – for $49,900
- Tri-Motor AWD with over 500 miles, 3,500 lbs of payload and 14,000 pounds of towing capacity – Starting from $69,900
Nonetheless, we are still very much intrigued by Musk’s creation and are looking forwards to this GTA inspired ride to launch officially.
Stay tuned to Brandsynario for more news and updates.