Elon Musk, the man on a path to salvation, has shown us nothing but victory for the past few years. And it seems the trend continues. Recently this year, one of Musk’s more notable ventures from his million other ones, SpaceX, in collaboration with NASA made history by launching astronauts into space with the ‘Crew Dragon’. And they’ve been at it since, launching the Falcon 9 satellite into space more recently. Musk and his partner Grimes also broke the internet into a frenzy, welcoming their newborn child ‘X Æ A-12’, but let’s not get too sidetracked here. Coming to the point, Tesla, the automobile company of the future. Breaking the stigma of silent cars being timid and boring, the manufacturer has taken the automobile industry by storm and it’s only going up.
Shares in the electric carmaker touched $1,134 on Wednesday morning before falling back, leaving it with a market value of $209.47bn (£165bn). That is roughly $4bn more than Toyota’s current stock market value. Shares in Tesla have surged since the start of 2020 as investors have begun to feel more confident about the future of electric vehicles, and with the downfall of the oil industry amongst many others following the pandemic, the thought has only been augmented towards. This is all despite the $14bn fall in Tesla’s shares after Musk tweeted that its share prices were too high. Yeah… he’s sort of a controversial online personality. All of this is not to say that Toyota has been lacking, because they sold around 30 times more cars last year and its revenues were more than 10 times higher. The Japanese manufacturer sold 10.46 million vehicles in the year to March and posted revenues of 30.2 trillion yen ($281.20bn).
Tesla ended 2019 with sales of just $24.6bn, having delivered 367,200 vehicles last year. In terms of sales, Toyota yet remains a far larger company and that is to be expected.
However, the future is inevitably electric and investors have come to that realisation, excited by the company’s revolutionary goals and immense prospect for conquering the future. Tesla has been innovative with every step and has driven the automobile industry to new lengths, and has been ahead of its competitors in that regard. In a reflection of that, the firm is also now worth around three times the combined value of US rivals General Motors and Ford.
Musk has said Tesla will deliver at least 500,000 vehicles in 2020, a forecast the company has not changed despite the coronavirus pandemic. The future holds a lot of promise, at least when it’s in the hands of men like Elon Musk.