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Tesla passes Toyota and is the world’s most valuable automaker NOW

Tesla became the most valuable automaker in the world on Wednesday. The market value of Elon Musk’s car company passed the value of Japanese industry colleague Toyota after the opening of the Wall Street stock exchange.

The electric car manufacturer shot up about 4 percent at the start of stock trading, bringing the market value to just under 209 billion dollars (185.7 billion euros). This makes Tesla worth about 5 billion euros more than the Japanese industry colleague.

With Wednesday’s rise, Elon Musk’s automaker’s stock price has already risen by around 160 percent this year, despite the corona pandemic. The increase shows how much confidence investors have in the future of electric cars and that Tesla is now seen as one of the leading companies in the industry.

Tesla has turned a profit in the past three quarters, after years of significant losses. Even during the corona pandemic, it seems the automaker is still prospering: the company has been able to maintain the number of deliveries in recent months, while driving was much less.

Toyota may no longer be the biggest when it comes to market value, but when it comes to production, the Japanese automaker is still quite a bit bigger than Tesla. Toyota produced 2.4 million vehicles in the first three months of March, compared to ‘only’ 103,000 Tesla cars.

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