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Together with Falcon 9, which Launched in order to deliver American astronauts to the ISS, Tesla's market capitalization rose to new heights, exceeding the market capitalization of all German legacy automakers combined.
The situation in the world and in the USA remains very tense, but despite the pandemic and economic crisis, Tesla's market capitalization is higher than that of Daimler, BMW and Volkswagen combined.
At the moment, Tesla's market capitalization is $166.48 billion. With this value, Tesla will yield only to one automobile company - Toyota, whose market capitalization, at the time of writing, is $174.15 billion. The total market capitalization of all German automakers is $154.76 billion.
Volkswagen $77.12 billion
Daimler $39.76 billion
BMW $37.88 billion
Total: $154.76 billion
Source: Top 25 Automakers by Market Cap
Tesla also costs more than the most valuable German company SAP, whose market capitalization is $153.4 billion.
An indirect but very important incentive for the growth of Tesla's stock prices was the successful launch of the first manned spacecraft Dragon Crew on ISS, which was due to Tesla and SpaceX CEO Elon Musk.
At the same time, German manufacturers generate only negative news around themselves. According to their statements, they either postponed or completely abandoned their own efforts to ensure electric mobility and autonomous driving. They also face a wave of lawsuits and compensation payments of billions of dollars due to the diesel scandal.
In parallel, European states support the purchase of electric vehicles by citizens of their countries, providing them with subsidies.
All this gives enormous power to Tesla, a company that accelerates the transition of the world to environmentally friendly transport.
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Eva Fox holds zero share of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
