Wonderful Engineering

Tesla Just Surpassed BMW In Market Value For A Few Minutes

Source: Charged.io

Tesla is the automotive company that is changing the world for good by accelerating the world’s transition to electric vehicles. The company has succeeded, not just in establishing its place as the best electric vehicle manufacturing company, but has also managed to surpass the oldest and the most popular automotive giants such as Ford in its market value and then became the top car maker in the US, beating General Motors’ stocks back in April. While that was only temporary, the company has established its value as one of the most competitive startups in the arena that is already giving the auto giants a massive competition.

On Friday, the company gained enough value in stocks to propel past the German car maker BMW for a moment.

Elon Musk has recently announced the scale production of Tesla Model 3 for actual purchase by customers, and that is when the company’s shares rose by 1.9 percent passing by BMW’s market value of $61.3 billion. That did not last long, however, and by the end of the Day, the company ended $2.6 billion below BMW.

Not to forget that this market share value was only on Wall Street, and the scenario in the real world is very different. As BMW produces 2.4 million vehicles a year, Tesla falls behind by incomparable margins at 80,000 cars annually.

For a company that is barely a decade old, going past automakers like GM, Ford, and BMW is a massive milestone even if it is temporary. When Tesla begins to produce the much-awaited Model 3 cars, we can realistically expect the company to do better than even the biggest automakers.