Barely eleven years after its IPO, Tesla has crossed the very symbolic threshold of 1,000 billion dollars in valuation. Only Facebook had managed to reach this threshold faster than Elon Musk’s company.
It is a very closed circle in which Tesla has just entered: that of companies valued over a trillion dollars. As Bloomberg reveals, the company created by Elon Musk reached this milestone on October 25. In the past, only six companies had succeeded in crossing this milestone: the four Gafa, Microsoft and PetroChina. In the third quarter of 2021, only Microsoft, Apple, Amazon and Google still exceeded this stock market valuation threshold, which makes Tesla 5th in the current ranking.
Tesla managed to reach this milestone very quickly: it went public only eleven years ago. Only Facebook (which is now below this valuation threshold) had managed to cross this threshold faster than the car company created by Elon Musk.
Tesla broke records in the third quarter
While many automakers are struggling to deal with component shortages, Tesla has deftly navigated this tricky time, rewriting the software in its cars to run them on alternative chips. Even if the shortage of chips remains a real threat for her, she was able to break many records in this way during her last quarter. The revenues of Elon Musk’s company thus jumped 57% in the third quarter compared to the previous year, and its turnover was established in these three months alone at 13.8 billion dollars.
While the sales of manufacturers such as General Motors, Stellantis, Honda or Nissan are at half mast, those of Tesla are indeed booming. The company delivered more than 240,000 electric cars in the third quarter, an increase of 20%. These excellent results and the rise in Tesla’s stock market valuation show the lead that the manufacturer has taken in the electric car sector. The Tesla Model 3 has also become the best-selling electric car in Europe.