Tesla Becomes Most Valuable Car Manufacturer

The North American electric vehicle company surpassed Toyota this Wednesday.

The American electric vehicle company Tesla this Wednesday overtook Toyota and became the most valued car manufacturer in the world.

Tesla's shares were up almost 5% just over an hour after the session began on Wall Street, bringing the company's market capitalization to $ 210 billion (about 186,5 billion euros), up from about 203 billion from the Japanese manufacturer.

Throughout this year, the securities of the company led by Elon Musk soared, from $ 430 per share to about $ 1.100, a figure recorded today.

In ten years, the Californian company has appreciated more than 4.000% and its securities have continued to rise during the pandemic, to the surprise of some observers.

In the next few days, the company is expected to release its second quarter results and car sales data.

In the first quarter of this year, Tesla posted profits of $ 16 million, after reaching revenues of $ 5.985 million, 32% above what it had achieved between January and March 2019.

The company currently produces half a million vehicles a year, when Toyota makes more than 10 million.

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