Jun 11, 2020 - 12:55 pm

Tesla stocks rise past 1,000 USD mark

tesla-model-3-logo-symbolbild-peter-schwierz

Tesla shares broke through the USD 1,000 mark for the first time on Wednesday. At over 180 billion dollars, this exceeded Toyota’s market capitalisation for the first time. This means that Tesla is currently trading on the stock exchange as the most valuable car manufacturer in the world.

The price rally of the US-American company is not for the faint of heart. In the course of the worldwide Corona stock market crash, Tesla’s share price slipped to 350 US dollars in mid-March. Since then, things have taken a steep curve upwards and the price has almost tripled. As a result, the electric car manufacturer is currently valued on the stock exchange at the equivalent of around 165 billion euros. This even exceeds the combined value of the three German car manufacturers BMW, Daimler and Volkswagen at just under 156 billion euros. In February, Tesla recently issued new shares to raise fresh capital on the market.

Tesla shares appeared to spike with the news that Tesla now wants to get serious about the market launch of the electric truck Semi – a decision that was recently postponed to 2021. Now, in an email to employees, company boss Elon Musk is said to have written that it is now time to bring the Tesla Semi into “volume production”.

Musk wrote that “Production of the battery and powertrain will take place at Giga Nevada,” extrapolating only as far as to write that other work will probably take place in other states, without giving specific locations or schedules.

Tesla has also been making waves from China and Canada: The Californian company has now received approval from the Chinese government to build the Model 3 with LFP batteries from CATL. LFP stands for lithium iron phosphate cells – a technology that works without using cobalt. Rumours that Tesla could obtain such battery cells from CATL have been circulating since the beginning of the year. Now, according to Reuters, these plans have now been officially confirmed and approved.

Over in Canada, Tesla has now started the first deliveries of the Model Y outside the USA: In Vancouver, the first reservation holders have received their vehicles.

electrek.co, reuters.com (Tesla shares), insideevs.com (Tesla semi), reuters.com (CATL), electrek.co, teslarati.com (Model Y in Canada)

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Found on electrive.com
https://www.electrive.com/2020/06/11/tesla-stocks-rise-past-1000-usd-mark/
11.06.2020 12:04