Tesla, the American electric car manufacturer, has overtaken Japanese car manufacturer Toyota as the most valuable car brand in the world. Tesla’s stock rose 3.5 percent on the New York Stock Exchange yesterday. As a result, the company’s stock market value grew to $ 207.2 billion, more than Toyota, worth $ 201.9 billion at the time.
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However, Tesla remains a very small player in production. Elon Musk’s company produced 103,000 vehicles in the first quarter, or about 4 percent of the nearly 2.4 million vehicles that rolled off the production line at Toyota.
The Tesla share has been worth more than double since the beginning of this year. Three weeks ago, it climbed above the $ 1,000 mark for the first time since the IPO ten years ago. In January, the Volkswagen had already overtaken as the second most valuable car brand, and now it is worth more than twice as much as the German car giant.
After Toyota pioneered the Prius hybrid model, the company was late to make the switch to electric cars – something that Tesla boss Elon Musk pushed the boundaries. The Japanese company keeps kicking around at the fair. Due to the corona crisis, car builders are in heavy weather anyway. Investors see the future better for Tesla.
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