Tesla’s market capitalization (it’s stock value) has skyrocketed and now exceeds prominent global brands, including Coca-Cola, Disney, PayPal, Toyota, and even ExxonMobil. The fact that an electric automaker has surpassed the market valuation of one of the planet’s largest fossil fuel mega-corporations is very exciting. Not long ago, electric cars were a niche market, after all.
The value of Tesla’s stock stood at about $223 billion while Exxon was worth just over $187 billion, Coke stood at $193 billion, Disney at $203 billion, PayPal at $209 billion, and Toyota at $204 billion. This achievement could be a foreshadowing of the future being in renewables, and not in fossil fuels. While Exxon’s stock price has been falling since the coronavirus pandemic, Tesla’s has only been going up.
To put things into perspective, Exxon is the world’s second-biggest energy company after Saudi Aramco – and Tesla is now more valuable.
Tesla has become the most valuable auto company on the planet. Although, it doesn’t mean it’s done the most business. For instance, last year, Toyota made 8.8 million cars while Tesla produced only 367,500. Toyota’s revenues were ten times higher, too, and it sold around 30 times more cars.
Other electric vehicle manufacturers are doing well too. Nikola’s market capitalization rose so high it’s worth more than Ford now. Furthermore, stock from the electric battery maker Workhorse more than doubled. So, it’s optimism about electrification overall.
However, investors are more confident about Tesla’s potential in dominating the future electric car market. Some analysts pointed out that the firm remained “significantly ahead of peers in the product range, capacity, and technology.”
