By Marko Vidrih on The Capital
The American electric vehicle manufacturer Tesla has achieved the largest market capitalization among other car companies.
During the trading on July 1, the price of one Tesla share was $1,100, which is 4% more than on the previous day. Thus, Tesla’s market capitalization reached $209 billion. This is $4 billion more than Toyota, which took second place.
According to The Guardian, this achievement is noteworthy in that the company never made a profit. Nevertheless, experts point to the prospects of the automaker as a leader in the market for battery-powered vehicles.
Analysts at Jefferies brokerage firm say that the coronavirus pandemic could accelerate the switch to clean fuels worldwide, both from consumers and from governments.
It is noted that the increase in the cost of Tesla shares will result in a bonus to the salary of Elon Musk in the amount of $55,8 billion. The entrepreneur plans to increase the company’s capitalization to $650 billion in the next 10 years. This implies a three-fold increase in stock prices.
Author: Marko Vidrih
Featured image credit: Unsplash