Tesla Inc. rises 48 percent in three months, now rivals Ford and General Motors. Tesla is revolutionizing the industries with its Model 3 electric car, soon to be unveiled by the end of 2017.
According to Bloomberg, the company went high up in the stock market with its $18 billion dollar stock run. The automaker is now worth more than Nissan Motor Co. and rivals America's Ford and GM. Tesla is focusing this year in its Powerwall, solar single, and Model 3 electric car.
Ford Motor Co. and General Motors Co. are a century old selling millions of automobiles and products while Tesla has only delivered 80,000 units in 2016. Tesla Chief Executive Officer Elon Musk expects to sell 100,000 to 200,000 units of Model 3 by the end of the year.
Furthermore, CNNtech writes that the automaker only needs to gain another 12 percent to catch Ford's current value. Tesla is smaller than Ford but is growing at a faster rate. Two years ago, Ford was worth twice as much as Tesla and about four years ago, times 10 of its value.
Ford had a profit of $4.6 billion, while Tesla had never reported a full-year profit. Only on its second profitable quarter, it made $22 million. This does not faze investors as they are still betting on the company's future plans, especially the Model 3. The electric car is listed with a price of $35,000
Now, Ford and General Motors are trying to catch up with the new trend of Tesla's electric car by making one of their own. CEO of Ford, Mark Fields, predicts on January that hybrid and electric vehicles will outsell gasoline-powered vehicles in the next 15 years. Rising star Elon Musk, CEO of Tesla, is a small automaker company compared to other automakers but he is gaining the respect of his competitors.
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