When we talk about Tesla, it is easy to think of a simple startup in its early days; a dwarf that faces giants with innovative concepts and a technology that many have not yet accepted: electric cars. In reality, Tesla already represents an important part of the automotive sector; perhaps not in market volume, but in value and expectations.
The latest Tesla stock rally has served as a reminder of how big and important the company already is, before electric cars have even established themselves in the market.
Tesla overtakes the two big American companies
Last Wednesday, Tesla’s shares jumped 5%, closing the day at $492.14 per share. There are many reasons for this jump, but the opening of the new “gigafactory” in China is one of them. It was there that Elon Musk announced the start of production of the Model Y.
The Model Y is expected to be the model that will make things difficult for the big manufacturers in the sector; it will be an SUV with a sports version, competing directly with the offers of BMW, Audi, Mercedes-Benz and Lexus. The first units are expected to go into production in 2021, after a year of preparation and construction of the new factory in Berlin.
This good news has propelled the company’s stock, and with it its value. It is estimated that Tesla is already worth 88.2 billion dollars, and in this way it has achieved an unprecedented achievement: it has surpassed the two great American manufacturers: General Motors and Ford … together.