For the first time ever, Tesla hit a $1 trillion market cap today. Compared with 2018’s numbers and Tesla’s near bankruptcy back then, this shows just how far Tesla has come from those days and gives us a view — or expectation — of Tesla’s path forward. And for a company that is focused on sustainability and clean energy, this is a win for all of us who are rooting for renewable energy and clean vehicles.
CNBC reported that this happened just after Hertz announced that it would purchase 100,000 Tesla EVs in a move to electrify its fleet. Tesla joins Apple, Amazon, and Microsoft in the trillion-dollar market cap space and is the first company that makes cars to have reached this level.
— David Ly 👽🚀🪐 (@dlyrious) October 25, 2021
In January 2021, Visual Capitalist shared that the world’s top car manufacturers were in a race to $1T and that Tesla was in the lead. The article was based on data from Yahoo Finance and ranked the world’s top car manufacturers by market cap. Tesla was at number one, and following most closely behind it were Toyota and then Volkswagen. Coming in at number four was BYD, and then NIO at number five. With the top 5 being mostly made of companies that focus on EVs, this reflects that clean energy vehicles are expected to take over the automotive market.
What this also means is that manufactured FUD regarding Tesla is no longer working. The attacks on Elon Musk’s wealth are not working. Change is inevitable, and even Herbert Diess, Volkswagen Group’s CEO, recognized this. Earlier this month, Diess invited Elon Musk to a meeting with 200 top managers at Volkswagen Group, and in a LinkedIn post, Diess pointed out that Tesla is VW’s strongest competitor. He was glad to hear that Elon and Tesla believed that Volkswagen would succeed in transitioning to clean energy as long as it drives into the transformation with full power.
Today is a day for Tesla’s supporters, shareholders, and customers to celebrate, yes, but it’s also a day for clean energy advocates to celebrate. For the first time, an automaker hit a $1 trillion market cap, and it was an automaker that only makes only clean energy vehicles (and solar panels and charging stations and batteries). Maye Musk often says, “Clean energy will win,” and she’s right. It’s winning.
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