Elon Musk’s Tesla becomes most valuable car firm at $208billion – TEN TIMES higher than Chrysler and Ford
TESLA is now the world’s most valuable car company after Wednesday’s valuation putting it at $208 billion.
This has been an incredible year for Elon Musk and his battery-powered car company.
Tesla’s stock has jumped 17 per cent over the last week alone, with shares now worth over $1000 each.
According to Forbes, Tesla has now officially surpassed Toyota—its main rival for that title, which is worth around $203 billion following a wobble with overseas trading.
It is now worth more than Fiat Chrysler, Ford, Ferrari, General Motors, BMW, Honda and Volkswagen combined.
Wednesday saw its share prices hit a new high that valued the company at an eyewatering $208bn (£166.25bn).
For perspective, that is $3bn more than New Zealand’s projected 2020 GDP, and only $10bn shy of the total GDP of Greece in 2019.
There is a keen interest in Tesla from investors, who have made its share price more than double in the last 6 months.
The success of Tesla and SpaceX has seen Musk’s personal fortune nearly double since April to $46bn.
He has had one hell of a year, becoming the first private company to launch astronauts, flogged off his mansion and had a baby, all since May.
Most read in News
However invesment companies are warning that Tesla could be a lot of hype at the moment as they don’t produce anywhere near the number of cars produced by their Japanese rival, Toyota.
Over the first quarter, Tesla only produced 103,000 vehicles, whereas Toyota saw 2.4million roll off production lines.
It is also in $38bn less debt than Tesla according to FactSet data.