Tesla Is Now The Most Valuable U.S Automaker, According To Market Cap

According to Market Cap, Tesla is now the Most Valuable Automaker in the U.S. Yes, it is now worth more than General Motors and Ford Motor Company. Quite surprising isn’t it?

Yes, it is true. Tesla’s two days rise in the stock market has increased its market capitalization. After two days of strong funding, Tesla’s market capitalization surpassed both Ford and General Motors.

Tesla’s stock went up almost 6 percent this week. One of the Tesla’s potential competitors Ford saw its shares dip to 3 percent at the end of a weak first quarter. As a result of this, Ford’s market value is now $45 billion and Tesla’s market value is now $48 billion making it the most valuable automaker in the US.

It is indeed a great accomplishment for Tesla which was founded in 2003 beating the 114-year-old company, Ford. It can also be argued that the Tesla’s huge numbers are largely been driven by the company’s potential.

Tesla is all ready to launch its Model 3 electrical vehicle which will be around $ 35,000. The demand for this model is incredibly strong with around 373,000 pre-orders. The company targets to deliver some of the first vehicles by the end of 2017.

Tesla is trading up around with a stock price of $303.89 per share and a total market cap of $53.06 billion, while General Motors was tracking around $34.40 per share and with a total market cap of $49.80 billion.