7/1, 4:07 PM (Source: TeleTrader)
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Tesla becomes most valuable carmaker worldwide

Tesla Inc. has become the most valuable car manufacturer in the world on Wednesday by surpassing Toyota Motor Corp. with over 205 billion market cap. While Toyota sold around 10.7 million vehicles in 2019, Tesla delivered only 367,500 cars during the same year.

The American company recently also exceeded oil and gas company ExxonMobil by market cap, hinting the demand could be shifting towards clean energy in the near future.

Tesla's stocks surged 3.03% to sell for $1,111.14 per share at 10:02 am ET. Furthermore, the company's shares jumped over 165% since the start of the year.

Breaking the News / ND