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Tesla Becomes the World's Most Valuable Automaker

Its factories are re-opening as some of their employees tested positive to COVID-19

Tesla Becomes the World's Most Valuable Automaker Its factories are re-opening as some of their employees tested positive to COVID-19

Tesla broke another record: following the increase of up to 8,97% in Wall Street, now its stock price is estimated to be worth $1.025,05 each stock. Elon Musk's society is now the world's most valuable automaker and is ready to start its newest production of electric trucks.

Following the big break of its stock prices, Tesla reaches its all-time high. The entire society, that was founded in 2003, is estimated to be worth $190 billion and overcomes the stocks of many of its older competitors: Toyota, who owned the first place until Tesla break-out, is valued to be worth ¥19,1 trillion (almost €156.905 million), but its stock price is stuck at €56,72. Volkswagen has a total value of $68.750 million, Honda is worth about €46.260 million.

In less than 20 years Tesla has become one of the most dangerous competitors in the auto market and is specialized in the production of electric cars and photovoltaic panels. The goal shared by Elon Musk and his co-founders has always been to make affordable the latest electric technologies and to sell them in the mass market. Their rise has been surprising: in 2015, Forbes classified Tesla as the most innovative company in the entire world. Still, its presence on the market has always been fluctuating, mostly because of the controverse personality of its most famous CEO, Elon Musk.

Only in March, Tesla's stocks reached their lowest point in the company's entire history. Its own recent boom can be explained for two reasons: on one hand because of the unexpected big uptick in new cars sales in China (as it is happening to the fashion industry, after the pandemic the luxury market will increasingly depend on China); on the other hand it is very plausible that it has been influenced by the success of its CEO, who never misses the chance to be a hot topic. In the past weeks has been in the center of the public eye for the birth of his first child with singer Grimes and nonetheless his ventures in the Outer Space with his other company SpaceX (he recently sent into space some piece of arts by Tristan Eaton and announced that he will shoot the first film ever made in space with Tom Cruise and in collaboration with NASA).

When the lockdown started, the company was in the middle of the launch of its fifth and latest vehicle: Model Y SUV, whose production was stopped to face the health emergency. Musk strongly opposed to the shut down of his factories; still, despite all his pressure and the misinformation he made about the virus, all of these establishments were forced to stop (one week after the local stay-home order went into place). In the past few months, Musk has made a lot of weird comments about the current situation and the pandemic itself: he said that the measures of quarantine were "unconstitutional" and even “fascist”.  Though Tesla's factories are now open, this is happening as at least 6 employees have tested positive for COVID-19 in California and one other case of contagion has been registered in one of his establishments in Buffalo, New York.