Tesla’s market value is now higher than Ford, with the electric car maker now worth $49 billion compared to Ford’s $46 billion.
Tesla’s share growth on Monday followed the company announcing a new record for vehicle deliveries in the first three months of the year, with 25,000 cars in quarter one, up 70% on the same quarter from 2016.
However, electric cars are still some way off being the main vehicle on our roads. Indeed, Tesla only delivered 76,000 electric cars last year, which is some way off Ford’s 6.7 million vehicle sales.
Future potential appears to be driving the market growth for Tesla. Developing cheaper electric cars, as well as investing in battery technology are long term goals for the company. In a further sign of confidence over Tesla’s potential, Chinese firm Tencent bought a 5% stake last month for $1.78 billion.
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