Tuesday, March 5, 2024
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HomeNEW IN TOWNThe future is now.. or sooner. Tesla stocks soar beyond Toyota’s.

The future is now.. or sooner. Tesla stocks soar beyond Toyota’s.

Shares in the electric carmaker touched $1,134 on Wednesday morning before falling back, leaving it with a market value of $209.47bn (£165bn). That is roughly $4bn more than Toyota’s current stock market value. Shares in Tesla have surged since the start of 2020 as investors have begun to feel more confident about the future of electric vehicles, and with the downfall of the oil industry amongst many others following the pandemic, the thought has only been augmented towards. This is all despite the $14bn fall in Tesla’s shares after Musk tweeted that its share prices were too high. Yeah… he’s sort of a controversial online personality. All of this is not to say that Toyota has been lacking, because they sold around 30 times more cars last year and its revenues were more than 10 times higher. The Japanese manufacturer sold 10.46 million vehicles in the year to March and posted revenues of 30.2 trillion yen ($281.20bn).

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