Tesla has surpassed the leading German player – BMW ($54.85 billion) that trades at a higher value than GM (General Motors) and Ford Motors.
Considering its business potential, investors are also betting big on Tesla.
Elon Musk’s luxury car manufacturing firm, Tesla is one of the fastest growing automobile companies across the globe. With $61.6 billion of net worth, the US-based automaker has now become the fourth most valuable car company in the world. With this value jump, Tesla has surpassed the leading German player – BMW ($54.85 billion) that trades at a higher value than GM (General Motors) and Ford Motors. Tesla has taken the lead with a huge difference of $280 million.
Despite the loss of $773 million in 2016, Tesla is giving a tough fight to well-established carmakers. Considering its business potential, investors are also betting big on Tesla – all thanks to its modern design approach and futuristic automatic software for electric vehicles. Elon Musk promised to increase the production to 500,000 in 2018. Previous year, the company had produced around 76,230 cars out of which about 40,000 are in the US market. Read – GOV to Elon Musk: Tesla Doesn’t Require Local Parts to ‘Make in India’
In the global automotive market capitalization, the first, second and third spots are grabbed by Toyota, Daimler AG and Volkswagen respectively. While Toyota’s market capitalization stands at $172 billion, the German duos Volkswagen and Daimler AG’s value sits at $68 billion and $78 billion respectively.
Founded in 2003, Tesla Motors produces electric cars brimming with utmost luxury equipment. The company had rolled out its first electric sports car – Tesla Roadster – in 2008, followed by Model S (2012) and Model X (2015). Within first year of its launch, the Model S became the world’s top selling plug-in electric car. Till December 2016, the US electric carmaker sold over 186,000 units across world since first delivery of Roadster.
With an aim to expand its global market, Tesla is ready to enter India with the all-new Model 3 sedan. Interestingly, the all-new Tesla electric car had received over 3 lakh bookings within first week of its global unveiling. Tesla claims that Model 3 will be packed with new motor technology and battery architecture. Besides India, this sedan will also go on sale in multiple developing nations such as Singapore, New Zealand, South Africa, Brazil, Ireland and South Korea.