(cont'd from yesterday's post)
Tesla had a spectacular 2020. Quarter 3 (July-September) produced new company records for manufacture and delivery of new cars, and then Q4 topped Q3 and set brand new records.
Year 2020 in summary: 499,550 new Teslas were delivered to customers. Half a million is the goal they set for 2018 and Elon Musk is famous for over-promising - but now it's done. It was done despite a pandemic forcing the weeks-long closure of two of its four factories.
Big numbers like these drove up market capitalization. To grasp how big this is, combine the values of oil companies ExxonMobil, Chevron and BP with car manufacturers General Motors, Volkswagen, Ford, and Nissan. Tesla's market cap is bigger.
But the enormous market cap of $780 billion is evidence that investors expect much, much more productivity growth. Elon Musk hopes for a million deliveries this year. Maybe it'll take a couple of years.
No comments:
Post a Comment