Tesla Inc. Is Now Worth $190 Billion
As of June 11, 2020 Tesla Inc. (formerly Tesla Motors) has surpassed Toyota as the number one most valuable car in the world. The feat doesn’t come as a surprise since Telsa is one of the most watched car companies of the decade and is led by the great mind, Elon Musk.
Here at Manuel’s Body Shop, we’re not just an auto body shop. We’re also car enthusiasts and the Tesla brand has always been on our list for top car brands.
As of June, the stock price is valued at a whopping $988 per share. Of course, stocks fluctuate on daily basis, but the most recent company valuation of Tesla Inc. is at around $190 billion dollars. Toyota, now second, is valued at around $173 billion dollars.
Here’s why Tesla is the world’s most valuable car company:
Good For The Environment
Tesla was founded in 2003 with a goal to reduce global emission and CO2 by building for environment-friendly vehicles. Tesla has built electric cars and clean energy sources like solar panels.
Electric vehicles emit less pollution and uses renewable energy. In addition, electric cars tend to use more eco-friendly materials.
Tesla has made a reputation for itself when it comes to quality vehicles. Let’s take a look at the base model, Model S, for example.
The Model S is a cross between a luxury sedan, electric car, and performance vehicle which starts at $79,000 for a 2020 model. Other luxury car brands are entering the electric vehicle like Porsche with their electric Taycan model. Both vehicles offer similar features and can go head-to-head with each other. However, the Model S costs about $20,000 less and now has a driving range of 400 miles compared to the Taycan’s driving range of 200 miles.
Even with an engine a Model S has one of the fastest acceralations. A standard Model S can go from 0-60 mph in about 3.7 seconds.
In terms of safety, Telsa vehicles rank among the highest.
Design and Innovation
Telsa has been known to churn out futurist models. Just check out the cyber truck (pick-up truck) that they designed— its out of this world. When you’re trying to sell a car, design will definitely be a selling factor.
Telsa is a pioneer when it comes to technological advancements in the automotive industry. It has been in the forefront of electric automobile technology like the lithium-ion battery-cell technology and powertrain.
Another great innovation was the Tesla Autopilot providing a driver assist intelligence system to Telsa owners. With software directly integrated in the vehicle, updates can be provided once there are new features. In April 2020, an update was released to enable full autonomy. Although it is still in its beta phase, users are already excited for the final product.
The great thing about this car company is that they have always followed unconventional approached when it came to branding and development.
The car company is one of the only car companies to have local production on the United States. Its main assembly plant is in Fremont, California which is near the headquarters in Palo Alto.
They Have Elon Musk
Elon Musk is known for being part of the “Paypal Mafia” and founding companies like the Boring Company and SpaceX, and of course Telsa Inc.
Elon Musk is well known for his technological achievements, but his principles on economics are also worth taking notes on. Musk’s economic strategy is his take on basic economics. Even the economic strategy for Telsa is to reduce production costs.
Most automaker outsource everything, but his goal is to make everything in-house, even the batteries that the cars are using.
We are looking forward to greater innovations and advancements from this company.
If you are already have a Tesla and need any repairs, make sure you bring by our body shop in Culver City. Free Estimates.