Today Tesla has overtaken the combined market value of General Motors and The Ford Motor Company.
With just shy of one million vehicles sold last year, Tesla has swiftly become the largest green energy auto manufacturer in the United States, worth over $150 billion. The company’s Model S, Model X, Model 3, and Model Y have surpassed consumer and competitor expectations alike despite production delays and roadblocks with every release.
“Tesla not only has the demand, but the infrastructure to support it. A few years ago we thought the idea of a ‘Gigafactory’ was ridiculous… now we can’t compete on production or cost” explains Mary Barra, CEO of General Motors. “We’re admittedly 10 years behind on renewable energy technology” she continued.
Can’t beat them? Join them.
In 2014 Tesla founder Elon Musk removed the wall of patents guarding Tesla’s technologies “in the spirit of the open source movement.” He promised not to “initiate patent lawsuits against anyone who, in good faith, wants to use our technology.”
In the following years, Tesla has tightened their grip on the market by licensing all technology to competitors as part of Musk’s philosophy to “use technology to advance the world, not just one company.” As a result, General Motors, Ford, and Mercedes-Benz have made the decision to use Tesla technology in next year’s line of vehicles, allowing drivers access to Tesla’s ever growing number of supercharging stations around the country.
STOCK PRICE: US $1257
REVENUE: US $92B
MKT VALUE: US $154B
INDUSTRY: Automotive, Renewable Energy, Renewable Energy Storage Systems
Matthew Haghighi, Zachary Zulch