For the first time, Tesla is worth more on the stock exchange than the two largest US automakers General Motors and Ford combined. The share of the electric car pioneer from California rose yesterday by almost five percent and reached a record high. The group achieved a market capitalization of around $ 89 billion.
That’s two billion more than GM and Ford combined, which have a market value of $ 50 billion and $ 37 billion, respectively. In terms of sales, however, Tesla lags far behind the two long-established rivals. While GM and Ford each delivered more than two million vehicles to the United States last year, Tesla only has 367,500 cars worldwide.
Tesla’s skyrocket is fueled by a surprising third quarter profit, progress in a new factory in China and encouraging fourth quarter deliveries. As a result, the price has more than doubled in the past three months. The discrepancy between the market value and sales figures in comparison with the traditional manufacturers also indicates the great confidence of investors in Tesla and e-car technology, which the entire industry is now increasingly relying on.
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