ELON MUSK’S TESLA BECOMES THE MOST VALUABLE AUTOMAKER IN THE WORLD

TESLA OVERTOOK TOYOTA.

According to reports online, Elon Musk’s Tesla is now the world’s most valuable automaker in terms of market value.

 

Elon Musk’s vehicle manufacturing company reached a market cap of nearly $208 billion USD following a 52-week high, Tesla has overtaken Toyota which once stood at the top with a $202.74 billion USD market cap. Elon Musk’s Tesla has defied all odds as a late entrant in the vehicle manufacturing industry, surpassing valuations of its major competitors, underproducing while having a volatile stock price.

 

Elon Musk’s Tesla is actually viewed more as a tech company, the electric vehicle manufacturer has also remained immune to the effects of the looming coronavirus (COVID-19) pandemic despite facing the same setbacks felt by businesses all over the world. The reports are also noting that the numbers of Elon Musk’s company for second-quarter delivery and production to be announced this week could possibly mean that Tesla share prices will rise again which should meet or surpass analyst expectations.