One of the newest players in the automotive industry, Tesla co-founded by Elon Musk, just reported their market capitalization of $49.3 billion USD, topping out Ford at $44.3 billion USD and they’re closing the gap on General Motors at $51.3 billion USD. The Palo Alto-based founded in 2003 is making waves in an industry dominated by BIG players, making it one-tenth of its competitors’ age — Ford Motors was founded in 1903. While Tesla gears up for the release of the highly anticipated  Model 3 release, Tesla’s market value increased 30% since the beginning of this year while Ford’s has only increased 5%, reports CNN Tech.

Pin It on Pinterest

SUBSCRIBE TO THEFRESHCOMMITTEE

Receive the best in music, reviews, culture and fashion straight to your inbox!
Enter your email address
Secure and Spam free...