The electric car manufacturer has been tipped by some pundits to achieve a valuation of more than $1tn (\u00a3800bn).
\nTesla has overhauled Japanese rival Toyota to become the world\u2019s most valuable automotive company.<\/p>\n
Despite never having made a profit, the billionaire Elon Musk\u2019s electric car manufacturer has been tipped by some pundits to achieve a valuation of more than $1tn (\u00a3800bn) as demand for electric vehicles soars.
\nShares in Tesla climbed by more than 4% during Wednesday to more than $1,100 apiece, giving the company a valuation of $209bn, ahead of Toyota on $205bn. The increase means Tesla has now outstripped Toyota on the stock market, even factoring in differences in the way that companies are valued in the US and Japan.<\/p>\n
Excitement has also been building around a so-called \u201cmillion mile\u201d battery lasting up to 16 years, which Tesla\u2019s Chinese supplier Catl has been working on and which is predicted to lower the cost of electric vehicles.
\nThe rise in Tesla\u2019s share price is doubly good news for Musk, who enjoys a controversial pay arrangement linked to the company\u2019s stock market performance that could theoretically hand him a $55bn bonus.
\nUnder the scheme corporate governance experts have described as \u201cstaggering\u201d, Musk must build Tesla into a $650bn company over the next 10 years, meaning the company\u2019s share price will have to more than treble from Wednesday\u2019s price of $209bn.<\/p>\n","protected":false},"excerpt":{"rendered":"
Elon Musk\u2019s company outstrips Toyota on stock market as demand for electric cars soars The electric car manufacturer has been tipped by some pundits to achieve a valuation of more than $1tn (\u00a3800bn). Tesla has overhauled Japanese rival Toyota to become the world\u2019s most valuable automotive company. Despite never having made a profit, the billionaire […]<\/p>\n","protected":false},"author":1,"featured_media":29304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/posts\/29303"}],"collection":[{"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/comments?post=29303"}],"version-history":[{"count":2,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/posts\/29303\/revisions"}],"predecessor-version":[{"id":29306,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/posts\/29303\/revisions\/29306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/media\/29304"}],"wp:attachment":[{"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/media?parent=29303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/categories?post=29303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.carquotes.ie\/pages\/wp-json\/wp\/v2\/tags?post=29303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}