Tesla becomes the world’s most valuable car company

Finally it’s happened and at a moment in history where it almost makes perfect sense. Tesla has become the world's most valuable car company, eclipsing Toyota. 

The share price on Thursday US time hit $1119.63, valuing the company at US$209 billion ($320 billion). This makes it triple the value of General Motors and Ford, combined. 

In the last year Tesla has grown 165 per cent and has recorded three successive profitable quarters. 

Whilst it took Toyota 10.46 million cars sold in the year leading up to 31 March, 2020 and US$281 billion ($430 billion) revenue to be worth US$203 billion, Tesla sold a "mere" 367,200 cars in the year leading up to 31 December 2019 and recorded US$24.6 billion ($37 billon) revenue.

Tesla expects to sell 500,000 cars in 2020 and reportedly hasn't felt any major revenue effects during the Covid period.