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Tesla TSLA Market Cap Surpassed All German Legacy Automakers Combined

by Eva Fox June 01, 2020

Tesla TSLA Market Cap Surpassed All German Legacy Automakers Combined

Featured image: Stockprice

Together with Falcon 9, which Launched in order to deliver American astronauts to the ISS, Tesla's market capitalization rose to new heights, exceeding the market capitalization of all German legacy automakers combined.

The situation in the world and in the USA remains very tense, but despite the pandemic and economic crisis, Tesla's market capitalization is higher than that of Daimler, BMW and Volkswagen combined.

At the moment, Tesla's market capitalization is $166.48 billion. With this value, Tesla will yield only to one automobile company - Toyota, whose market capitalization, at the time of writing, is $174.15 billion. The total market capitalization of all German automakers is $154.76 billion.

Volkswagen $77.12 billion
Daimler $39.76 billion
BMW $37.88 billion
Total: $154.76 billion


Source: Top 25 Automakers by Market Cap

Tesla also costs more than the most valuable German company SAP, whose market capitalization is $153.4 billion.

An indirect but very important incentive for the growth of Tesla's stock prices was the successful launch of the first manned spacecraft Dragon Crew on ISS, which was due to Tesla and SpaceX CEO Elon Musk.

At the same time, German manufacturers generate only negative news around themselves. According to their statements, they either postponed or completely abandoned their own efforts to ensure electric mobility and autonomous driving. They also face a wave of lawsuits and compensation payments of billions of dollars due to the diesel scandal.

In parallel, European states support the purchase of electric vehicles by citizens of their countries, providing them with subsidies.

All this gives enormous power to Tesla, a company that accelerates the transition of the world to environmentally friendly transport.

 

Legal Disclaimer --

This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

Eva Fox holds zero share of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.




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