Published on May 30th, 2013 | by Zachary Shahan17
Tesla Now Worth 25% Of GM, But Just Wait a Few Hours….
May 30th, 2013 by Zachary Shahan
Tesla’s stock has been climbing strong, and I’m feeling mighty angry at myself, since I was planning to buy some a couple months ago… but never did. At the moment, Tesla’s stock price is over $104, and the good folks over at Venture Beat have noted that Tesla’s now worth about 25% of GM.
It’s interesting, actually, because Chrysalix President and CEO Wal van Lierop, while interviewed by Future360 TV a couple months ago, said that the US has three and a quarter automotive companies, if you count Tesla as one quarter.
From Venture Beat’s John Koetsier: “So now, with a market cap in excess of $12 billion, Tesla is worth almost a quarter of the venerable General Motors.” Here’s a graph of Tesla’s stock price since March 1:
There are a ton of reasons why Tesla’s stock has been surging. I ran down many of them in my Top 33 EV Stories Of 2013 (So Far) article, so I’ll just repost some of those below. But first, there’s one more big piece of news today. Tesla is holding a press conference later today in which CEO Elon Musk has said he will announce a tripling of Tesla Superchargers. That’s the rumor, at least. The Superchargers, which are solar powered, are free for use by Tesla owners. They charge your car relatively quickly, and their purpose is to make long-distance trips along the East and West Coast (and maybe soon in other regions) relatively easy for a Tesla owner. We’ll keep you posted.
Prior to today, from my Top 33 EV Stories article, these are some of the things that have resulted in Tesla’s stock surge:
6. Tesla Announces One Huge Improvement Or Milestone After Another.
Elon Musk, Tesla’s founder and CEO, seems to be genuinely intent on helping humans and helping humanity. He and the Tesla team have announced that they will cover everything that might happen to a Model S owner’s car… beyond a physical accident or someone blowtorching the battery or “taking it out for shooting practice;” will give owners a fully loaded Model S (probably better than their own) when their car is in the shop; are offering a competitive new leasing option; are guaranteeing the Model S has the highest resale value of any premium sedan made in volume; have rolled out their European gameplan; have paid back their US government loan 9 years early(!); earned a profit in Q1 2013; and will be offering an affordable electric car about half the cost of the Model S by 2017. A lot of big news for clean car (and awesome car) lovers.
Furthermore, despite no releasing official figures, it seems the Tesla Model S has been leading electric car sales in the US.
Well, from doing what most people said was impossible with Tesla Motors, to doing what most people said was possible with Space X, to chairing solar industry-leading SolarCity, there’s no doubt Elon deserves props as an extremely influential person in the world today.
Scoring an amazing 99/100, the Tesla Model S won Consumer Reports’ best rating ever, a rating only one other car has ever won. And if charging were simply a little fast, or range a bit longer, Consumer Reports said it would have given the car a 100/100.
It also won the 2013 Green Car of the Year award, the 2013 Automobile Magazine Car of the Year award, the 2012 Motor Trend Car of the Year award, and a bunch of other awards, natch.
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