Reportedly, Tesla has become the world’s largest electric automaker in the world in the shortest possible time. A group of enthusiasts, including Elon Musk, founded the company in 2003. In just 17 years, Tesla has been able to become the first publicly listed US automaker to cross $100 billion in market valuation.
Currently, Tesla's share price exceeds $1,000 and the company’s market capitalization amounts to $190 billion. It eclipsed the combined value of such US auto giants as Ford, General Motors, Honda, and Fiat Chrysler. Tesla’s shares skyrocketed after Elon Musk wrote a memo to the company's employees stating, "It's time to go all out and bring the Tesla Semi to volume production." This news has immediately spread around the market, and investors encouraged by another success of the company began to buy up shares of the automaker.
The company's factories closed during the pandemic have reopened. Notably, such a quick reopening happened thanks to Musk’s prompt actions. He threatened to leave California for Texas or Nevada over his factory’s closure. Hence, the production of the new all-electric battery-powered truck will begin on time. Batteries and propulsion systems for the Tesla Semi will be made at the factory in Nevada.
