Tesla crosses $800 billion market value after the latest rally in the stock market. Not only that but the most recent price jump of the company also made Elon Musk the richest person in the world. With the growing price of Tesla, the difference between Musk’s net worth and Jeff Bezos is now huge. The way Tesla’s price has been increasing in 2021 makes it safe to say that the company will join the Trillion dollar club in a week. The company’s shares are currently trading at around $880 after almost another 8-10% increase the following day of crossing the $800 mark.
Tesla’s growth and future
Yes, $800 billion is a huge number, but it is just the beginning. I personally think that Tesla’s growth has just started. And this is because the adoptions of Electric Vehicles have just taken off. There is still a long way to go before they actually become mainstream and used by almost everyone. Plus, the scope of expanding and arriving in different countries is also huge. This will help the company boost sales and pump up their revenues.
Only recently, we heard that Tesla had got regulatory permission to sell its vehicles in Israel. And at the same time, the company is also going to arrive in India in 2021. All of this will add up, and as bright as the time seems now for Tesla, it will be brighter in the upcoming times.
Tesla’s cheaper EVs coming in 2022
Another great thing that we heard about recently is a cheaper Tesla model will be arriving in 2022. This news was tweeted by the company’s official page and said that the new vehicle would start at $25,000. Plus, this vehicle’s design will be based on the Tesla Model 3, making it kind of a successor to that vehicle. As of now, the company has only been targeting from upper to premium range vehicle market. But after this launch, they plan to take hold of at least 90% of the entire automotive market.
In countries where import duties are high and the scope of manufacturing is difficult, cheaper EVs like these will be essential. What are your thoughts on the fact that Tesla crosses $800 billion market value and is now the 5th most valuable company? Do let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.