The share price for Tesla Motors is surging and there seems to be no signs of its rise. This is due to increase demand in China and Germany and the rivals are not having electric cars that can outshine the gleam of Tesla as the rivals struggle to produce both electric and petrol driven cars at the some time.
Tesla is just producing electric cars and so their research and development costs are less and more concentrated.
As of 2020 June 11, Thursday the current stock price of Tesla Motors in America is at USD1009.260 and data indicates that the asset price has been in an uptrend for the past 1 year (or since its inception). This makes Tesla Motors almost as valuable as Toyota Motor with a company valuation at about USD190 billion.
The quick rise comes as Tesla boss Elon Musk announces the production start of the cyber truck and the recent announcement of the million miles electric vehicle (EV) battery that will be installed in every new Tesla.
Tesla’s stock broke a company record on Wednesday after CEO Elon Musk reportedly said it’s time to focus on mass production of the brand’s electric Semi truck as well.
Early Wednesday last week Bloomberg news reported that the billionaire sent a memo to employees declaring that it’s “time to go all out” on volume production of the truck. Musk did not say how soon mass production would happen.
The truck was first unveiled in November 2017 with plans to deliver in 2019. Tesla later said it is pushing deliveries back two years to 2021.
Tesla would produce the cyber truck battery and powertrain in its Nevada factory, with most of the other work likely happening in other states in America.
In 2019 already Tesla shareholders were very happy with the news that their company had almost 60,000 cars registered in the European market. Tesla is the manufacturer that stands out in the European electrical car market with the highest number EV’s sold for a car brand.
It is surprising how Tesla made a turnaround in just two years, as in 2018 Tesla reported a record USD710 million net loss from January to March that year, with the company blaming their on-going Model 3 production issues. However, Tesla CEO Elon Musk at the time insisted the company could turn its woes around and post profits later that year possibly as soon as Q3 2018 which he managed to show.
Is Tesla on its way to becoming the world’s largest automaker?
Meanwhile the latest closing stock price for the iconic and oldest car manufacturer in America, Ford Motor as of June 11, 2020 is trading at USD6.13. Does this make sense?
PRESS RELEASE: Cybertruck is designed to have the utility of a truck and the performance of a sports car. The vehicle is built to be durable, versatile and capable, with exceptional performance both on-road and off-road. Cybertruck will come in three variants: Single Motor Rear-Wheel Drive, Dual Motor All-Wheel Drive, and Tri Motor All-Wheel Drive.
Cybertruck Vehicle Specifications:
- Range: 500+ miles
- 0-60 mph acceleration: <2.9 seconds
- Towing capacity: More than 14,000 lbs
- Payload: Up to 3,500 lbs
- Vault length: 6.5 feet
- Storage capacity: 100 cubic feet of exterior, lockable storage including the vault, frunk, and sail pillars.
- Suspension: 4” in either direction
- Touchscreen size: 17”
- Body: Ultra-Hard 30X Cold-Rolled stainless steel. If there was something better, we’d use it.
- Seating capacity: Up to six adults
- Charging: Can be charged at home, at Destination Charging locations, and with our network of more than 16,000 Superchargers, including on our newest V3 technology, which is helpful for long hauls and towing.
