Tesla now worth more than 100-year-old Ford
NEWSWATCH: Yesterday, 3 April 2017, saw Elon Musk's clean transportation and power company, Tesla, reach $298.56 in Nasdaq trading (a 7.3% increase). That pushed its market cap to a record almost-$48 billion compared with $45.3 billion for Ford.
According to reports, this happened a day after Tesla reported its best-ever quarterly production and delivery results.
Last year, Ford sold 6.7 million vehicles compared to Tesla
which delivered less than 80,000 cars. Musk is of the opinion that, after the launch of the Model 3, his company could produce up to 500,000 vehicles a year in 2018.
Currently, shares of both General Motors
are now lower for the year, while Tesla's stock has increased more than 35%.
Musk marked the occasion on Twitter with a dig at short sellers, investors who bet that a company's stock will decline.
About Ilse van den Berg
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