Tesla’s stock value is skyrocketing: Lately, the company led by Elon Musk has been able to outperform the value of big car groups like BMW, Daimler (Mercedes-Benz), Ford, General Motors, and Volkswagen. However, all of them have a production capacity far superior to that of the Californian company.
Now Tesla has achieved a new milestone by becoming America’s most valuable industrial company ahead of aircraft manufacturer Boeing. Tesla’s market capitalization outpaced Boeing’s at 1:15 p.m. Wednesday, further evidence of the power the electric car maker is achieving.
It should be remembered that in parallel to Tesla’s rise, Boeing’s shares have plummeted as a result of the coronavirus crisis and the problems exhibited by its 737 MAX models. Thus, the value of Boeing is currently 116,032 million dollars, compared to the 118,616 million dollars that Tesla is worth today.
This is all the more remarkable when you consider that Tesla only made a profit in the third and fourth quarter of last year. It’s high valuation is due to its advanced proprietary technology (from its efficient powertrains to the Autopilot autonomous driving system ), due to the high demand for its electric cars and its growing production capacity.
Tesla is currently the second-largest automaker with the highest market value in the world, ranking only behind the Japanese giant Toyota. For its part, Boeing is going through a particularly troubled stage due to the problems of its 737 MAX model, which after suffering several fatal accidents as a result of a series of technical issues, has been on the ground since March 2019.