World’s Most Valuable Car Company, world record set by Tesla

November 22, 2024

Austin, Texas, United States--Tesla, Inc. (Nasdaq: TSLA), an American multinational automotive and clean energy company headquartered in Austin, Texas, was founded in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors; with a market cap of nearly 566.2 billion U.S. dollars, it sets the world record for being the World’s Most Valuable Car Company, according to the WORLD RECORD ACADEMY.

"Tesla, Inc. is an American multinational automotive and clean energy company. Headquartered in Austin, Texas, it designs, manufactures and sells battery electric vehicles (BEVs), stationary battery energy storage devices from home to grid-scale, solar panels and solar shingles, and related products and services.

"Tesla was founded in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. Its name is a tribute to inventor and electrical engineer Nikola Tesla. In February 2004, Elon Musk joined as Tesla's largest shareholder; in 2008, he was named chief executive officer.

"In 2008, the company began production of its first car model, the Roadster sports car, followed by the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, the Tesla Semi truck in 2022 and the Cybertruck pickup truck in 2023." (Wikipedia)

"Tesla is one of the world's most valuable companies in terms of market capitalization. Starting in July 2020, it has been the world's most valuable automaker.

"In October 2021, Tesla temporarily became a trillion-dollar company, the seventh U.S. company to do so, and did so again in November 2024. In 2023, the company led the battery electric vehicle market, with 19.9% share." (Wikipedia)

"We’re building a world powered by solar energy, running on batteries and transported by electric vehicles. Explore the most recent impact of our products, people and supply chain," the official website says.

"We design sustainable systems that are massively scalable—resulting in the greatest environmental benefit possible. Our energy generation and storage products work together with our electric vehicles to amplify their impact. Our master plans share our vision for a sustainable future and what we are doing about it."

"Tesla continues to surprise, delight and disappoint as it has journeyed from the early days of its sublime Roadster to a conglomerate representing a full line of EVs, including semi-trucks," the US News Money says.

"The company continues to position itself beyond the constraints of a car company, aiming to build a sustainable planet through renewable energy, storage, AI and connectivity.

"Tesla's market cap surged in 2023, but lagging profits and weak deliveries have caused the stock to dip in 2024. The stock rose after the EU approved a 9% tariff on Chinese EV imports, giving Tesla a pricing advantage over competitors facing higher tariffs."

Tesla

Founder: Elon Musk
Headquarters: Austin, US

"Tesla, founded by Elon Musk, has revolutionized the automotive industry with an array of electric vehicles and sustainable energy solutions. Known for its groundbreaking technology," the Forbes says.

"Tesla produces popular models like the Model S, Model 3, Model X, and Model Y, alongside advancements in battery technology and autonomous driving."

"Tesla was the most valuable carmaker worldwide with a market cap of nearly 566.2 billion U.S. dollars," the Statista says.

"In terms of market capitalization, the electric automaker zoomed past Toyota in the summer of 2020 and now dwarfs all other competitors.

"Tesla stock soared to record heights in October 2021, after a volatile beginning of the calendar year."

"Tesla's market value soared past USD 1 trillion, fueled by speculation that CEO Elon Musk's support for President-elect Donald Trump could translate into favorable regulations for Tesla's autonomous driving technology," the ET Auto says.

"Musk's focus on self-driving cars, along with strong quarterly profits driven by sales of their Full Self Driving software, have contributed to Tesla's position as the world's most valuable automaker."

"Tesla shares jumped in late October after the company reported a rise in quarterly profit margin and forecast 20 per cent to 30 per cent growth in deliveries next year," the Republic World says.

"It has been the world's most valuable automaker for years, with Japan's Toyota Motor, China BYD, and others trailing by a wide margin.

"Tesla shares trade 93.47 times their 12-month forward earnings estimates, compared with 38.57 for AI chip giant Nvidia, 30.77 for Microsoft, and 6.29 for Ford."

"Tesla shares are priced near 61 times expected earnings, up from about 22 in January, though that is far below a price-to-earnings ratio of 150 reached in November 2021. By comparison, General Motors (GM.N) and Ford Motor (F.N), are trading at forward PE multiples of 5 and 6, respectively, while Toyota (7203.T), is trading at 9 times expected earnings, according to LSEG," the Reuters says.

"In another reflection of Tesla's high valuation relative to its business, Tesla's stock market value is equivalent to almost $6 million per employee, down slightly from two years ago, but still almost 20 times higher than GM and Ford, which each have about $300,000 in market value per employee.

"Even after its decline, Tesla remains the world's most valuable automaker, far ahead of Toyota, the world’s biggest automaker by volume."

"Tesla Inc. (TSLA) has grown rapidly into one of the world's largest all-electric vehicle companies through the sale of cars and pickup trucks in the U.S., China, and other countries throughout the world," the Investopedia says.

"It has even become the most valuable automaker in the world by market capitalization.1 Tesla's automotive segment accounts for the vast majority of revenue and profits at the Austin-headquartered company."