TESLA

Company beats Toyota as the automaker with the highest market value

Tesla on Wednesday became the automaker with the highest market value, overtaking rival Toyota as its shares climb to record levels.
Tesla's shares were up more than 5% earlier, bringing the company's market value to $ 209.47 billion - about 6 billion more than Toyota.
Tesla is now worth more than three times the combined value of US automakers General Motors and Ford Motor.
The meteoric rise in stocks, up 163% this year, highlights growing investor confidence about the future of electric vehicles and Tesla's shift from a niche carmaker to a global leader in greener cars.
After several years of losses, Tesla has had three profitable quarters since the third quarter of 2019 and surprised investors with solid results in the first quarter, despite the coronavirus pandemic.
Toyota, one of the most profitable automakers in the world, sold 10.46 million vehicles during the 2019 financial year, which ended March 31, 2020. The company posted net revenue of 30.226 billion yen, or approximately 281.2 billion euros. dollars in the period.
Tesla ended 2019 with $ 24.6 billion in revenue, having delivered 367,200 vehicles. Chief Executive Elon Musk has said that Tesla will deliver at least 500,000 vehicles in 2020, a forecast maintained despite the pandemic.
Tesla is expected to release second-quarter delivery figures this week.

Autonews