Tesla’s stock reaches a high of $1000 per share surpassing Toyota to become the worlds most valuable automaker. With their stock prices rising over the last few years, the California-based automaker has been climbing the ranks of the most valuable automakers. Tesla has proved to be more than an automaker due to its growing energy division and its tech-like approach to the automotive business. Tesla had a surge in stock price in 2018 making it more valuable than several major automakers. However, it was short-lived after a difficult year on the stock market for the electric automaker. Today, the stock hit another high of over $1,000 per share raising Tesla’s market valuation to over $180 billion:
Tesla’s stock surged more than 6 percent after an internal memo from Musk leaked saying that the carmaker would soon be gearing up for mass production of its much anticipated semi-truck. The all-time high comes a little over a month after Musk tweeted that Tesla’s stock price was “too high.” Their market cap is now close to breaking the $200 billion barrier, currently sitting at $186.4 billion.
Tesla is much more than an automaker and its success has a lot to do with its other sustainable projects. However, the decline in value of almost every other automaker certainly helped Tesla reach this position. Toyota lost 7% of its value since the start of 2020, and has lost up to 20% during the global pandemic. It has since recovered a lot of that loss.
Toyota invested $50 million in Tesla in 2010 and brokered a heavily discounted sale of the Nummi factory. The factory which is now Tesla’s Fremont factory. In 2017 Toyota sold its stake in Tesla for a good profit. However, it was only a fraction of what it would be worth today.
Tesla has not only established itself as the leader in American EV manufacturing, but has launched itself into an international giant that has combined electric mobility with sustainable energy solutions making it an international sensation.