Tesla becomes fourth most valuable carmaker as it closes $30 billion market value gap in six months
American EV manufacturer Tesla has become the fourth most valuable car manufacturer in the world after beating Bavarian auto giant BMW. The US-based brand closed a whopping $30 billion market value gap in just six months. The company’s announced strategy to ramp up the production volume in near future and launching more electric vehicles including the Model 3 compact sedan, Model Y compact SUV has played crucial role behind this success.
This change in stock value is no small matter. With this one thing becomes clear that is the investors are signaling confidence on the EV maker. The investors seem to believe that Tesla can challenge the luxury auto giant like BMW with its range of all-electric cars.
Interestingly, Tesla’s stock is rising for last couple of months. In April this year, the company beat the Ford to become the second most valuable carmaker in US market right after general Motors. Now beating BMW gives more confidence to the EV maker. However, the real test for the American brand will begin once it rolls out the Model 3 that is scheduled to enter production next month.
While Tesla is an all-electric car manufacturer, BMW operates in both EV segment as well as in the internal combustion powered segment as well. The latter one has greater reach worldwide and it has much larger fleet of products as well. So, beating BMW doesn’t give Tesla an upper hand for unfathomable time. So far, the Model 3 will play a very crucial role for Tesla in holding its fourth most valuable car brand position.
Tesla Model 3 is going to be the most affordable product from the brand upon arrival. The first batch is expected to be delivered later this year. The company has managed to secure millions of investment with the booking for this car from the potential buyers across the world.
Tesla Model 3 Gallery