A watershed moment in the relatively short history of Tesla. Yesterday their market capitalisation rose above that of Ford, the second oldest production vehicle manufacturer in the world. The shares rose 7% yesterday to $298.52 as car deliveries for Q1 beat analysts expectations. This means Tesla is now worth $48 billion, whilst Ford is worth $45 billion. If we look a little closer, it’s even more surprising given that annually Tesla only makes around 76,000 cars, whilst Ford makes 2.6 million. Clearly technology has a huge part to play in this. The investment from Tesla founder Elon Musk in the battery development factory, called Gigafactories, paying dividends in terms of improvement in duration & overall power. Tesla now boots the fastest production car in the world, moving from 0-60 mph in 2.5 seconds and a new battery range of 265 miles one just 1 charge for its latest S model.
Jordan Hiscott, Chief Trader
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