Tesla Overtakes Ford & GM in Market Value
A timely article demonstrating the intrinsic power of emerging tech (& early investing) and on a new-found predisposition of global markets and institutional investors towards aggressively “valuing a greener future” around environmental, social, governance (ESG-compliant) investments and to decarbonise their investment portfolios.
Tesla (~$52 billion) recently overtook Ford & GM in market value, – for the first time in 100 years since the combustion engine was invented, Tesla’s electric car was valued more at $667,000 per car sold last year compared with GM’s market capitalization equivalent of $5,000 per car it sold in 2016. An interesting piece on when Tesla first started out displaying the ignorance of the global automobile industry:
”…of concern that the big car companies would copy our technology and then use their massive manufacturing, sales and marketing power to overwhelm Tesla. We couldn’t have been more wrong. The unfortunate reality is the opposite: electric car programs (or programs for any vehicle that doesn’t burn hydrocarbons) at the major manufacturers are small to non-existent, constituting an average of far less than 1% of their total vehicle sales.”