Elon Musk’s Tesla Overtakes Ford And GM, Becomes The Most Valuable Carmaker In America Tesla CEO Elon Musk steps out of the new Tesla Model X during an event to launch the company’s new crossover SUV on September 29, 2015 in Fremont, California. (Justin Sullivan/Getty Images)

Tesla has become the most valuable US carmaker with its blockbuster run continuing in the stock market - the reason largely attributed to a huge demand for its electric vehicle, the delivery of which will begin by the end of this year.

The American carmaker outdid Ford today in the stock market having passed GM’s market cap on Tuesday.

Tesla’s stock has been on the upside following its report that both production and deliveries were on the rise during the first quarter of the year. On the contrary, the big US automakers didn’t do too well in terms of vehicle sales in the same period. This appeared to have pumped up Tesla stock as against the competitors’ stable performance to say the least.

However, Tesla’s potential helped prop up its stock with the company preparing to launch its Model 3 electric vehicle. With prices starting at $35,000 before tax incentives for green vehicles, demand was incredibly high with around 373,000 pre-orders as of May last year.

As of now, Tesla appears to be on target to meet its goal of beginning shipment this year and even delivering some of the first vehicles by the end of 2017.


An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber