Business Standard

Tesla becomes highest-valued automaker as shares surge, overtakes Toyota

Tesla shares gained 5% in early morning trade to a record of $1,133, boosting the company's market cap to $209.47 billion

Tesla, elon musk
Premium

After several years of losses, Tesla has delivered three straight profitable quarters since the third quarter of 2019 and surprised investors with solid first-quarter deliveries despite the virus outbreak.

Reuters
Tesla Inc on Wednesday became the highest-valued automaker as its shares surged to record highs and the electric carmaker's market capitalization overtook that of former front runner Toyota Motors Corp.

Tesla shares gained 5% in early morning trade to a record of $1,133, boosting the company's market cap to $209.47 billion - roughly $6 billion more than Toyota is currently valued by investors.Tesla is now worth more than triple the combined value of U.S. automakers General Motors Co and Ford Motor Co .

The shares' meteoric rise, up more than 163% since the start of 2020, highlight growing confidence among

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in