Categories: Business

tesla tops Toyota to become no 1 automaker by market value

Photo: GOOGLE

Tesla become no 1 automaker by market value

new Delhi. Tesla has become the world's largest car company by market value. During Wednesday's trading, Tesla shares have seen a record rise. With this, Tesla has overtaken Toyata for the first place in the list of market value.

Tesla's stock gained 5 percent in early trading Wednesday and the stock reached an all-time high of $ 1135. At this price, the company's total market value reached $ 206.5 billion. While Toyota has a market value of $ 202 billion.

Investors are steadily increasing investment in electric car makers. Tesla shares have risen 170% so far this year. However, Tesla has not yet been able to record profits in any one financial year. However, given the technology of the future, investor confidence in Tesla remains.

Even though Tesla overtook Toyota in the market cap, Toyota's performance in many other figures is much better than Tesla. Toyata is ahead of Tesla in terms of car production. Tesla has produced more than 1 lakh cars in the quarter ended March 31, while Toyata on the other hand manufactured 2.5 million cars. At the same time, Tesla's enterprise value of $ 252 billion is also much lower than Toyata's enterprise value of $ 290 billion.

This post was published on July 2, 2020 1:54 am

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