EnergyWatch

Tesla's market value now exceeds General Motors and Ford combined

The upswing continues for US electric vehicle maker Tesla, whose value now exceeds the combined worth of the two conventional US car makers General Motors and Ford. This in spite of Tesla having delivered markedly lower revenue and smaller earnings than the two leading firms.

Photo: Aly Song/REUTERS / X01793

US-based electric vehicle manufacturer Tesla saw its share price increase again on Wednesday, surging 5.1 percent to USD 493.05. As such, the company's stock has already risen 18 percent in 2020, continuing the improvement seen last year, when it came to 26 percent.

Tesla, which has now risen 175 percent since its most recent bottoming-out in early 2019 at USD 178.97, not only books record upon record in its share price these days, but despite considerably fewer vehicles sold, lower revenue, smaller earnings and weaker cash flows, the company's value now exceeds that of Ford and General Motors (GM) – combined.

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