autoevolution
Car video reviews:
 

Tesla Smashes $1 Trillion in Market Cap, Says EV Revolution is Underway

As should be news to absolutely no one in the industry, Elon Musk, and my association Tesla, are filthy stinking rich. On Monday, October 25th, 2021, Musk and his beloved company cemented their wealth in the history books by achieving what only the upper echelon of the most successful companies in human history have achieved.
Tesla Model 3 41 photos
Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3Tesla Model 3
After a landmark deal to sell 100,000 units of the Model 3 sedan to the Hertz rental car company, Tesla surpassed $1 Trillion in market capitalization. For investors in EV technology, this move is a call to action of sorts. A signifier that the auto industry is no longer on the cusp of an-all electric revolution, it’s now actively taking part in it.

This latest acquisition pushed Tesla stock to the knife-edge of $1000 per share and officially placed them in the exclusive $1 Trillion market cap club. Other companies with the distinguishment of achieving $1 Trillion in market cap include Apple, Microsoft, Amazon, General Electric, and Exxon-Mobile.

This is happening after only 15 years since the world was introduced to Tesla via Jeremy Clarkson's review of the first Tesla Roadster on Top Gear. Less than two decades later, the company is poised to generate more revenue than the national broadcasting service that aired that episode, that being the BBC.

"Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," Hertz interim Chief Executive Officer Mark Fields said in an interview with Reuters on Monday. This historic company growth comes even after accusations of institutionalized racism and questions regarding the validity of its claims about its fully self-driving technology threatened to bury Tesla under a mountain of controversy.

If we’ve learned anything from Volkswagen and the Dieselgate scandal, it’s that consumers are willing to overlook unscrupulous business practices if the product on offer is satisfying enough. It appears the same good fortunes have blessed Tesla as well.

 
 
 
 
 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories