Tesla Has Witnessed Massive Growth Recently

 One of the American Famous Automakers for electric automobiles, Tesla recently hit a $1 trillion valuation following reports released in the past week. The valuation followed the stock price of Tesla doubling in the past year, and the demand for Tesla electric vehicles has increased, raising the company profit.

Various investors are pushing the global demand for electric vehicles with the recent announcement by Hertz Global Holding incorporation making a larger request order of about 100,000 units for the Tesla electric vehicles that the company wants to get delivered in the following year. Such bulk purchase orders for Tesla electric vehicles are pushing the electric cars and demand for the adoption of Tesla technology into the mainstream media.

There are not so many companies that have achieved the $1 trillion valuations and the number of companies is less than five. Some of these companies with over a trillion-dollar valuation include the e-commerce giant Jeff Bezos, Amazon, Apple Inc., Microsoft incorporation, and tech giant Google incorporation. Mark Zuckerberg and his social media platform Facebook have dropped out of this list as its shares recently dropped, significantly affecting its overall value as a company. On the other hand, Tesla has risen dramatically in the past 24 months. The quarterly financial report recently released shows that its profits soared and is approximately estimated to be a combined value of about nine largest automakers in the United States. This significant increase in the share capital shows how much the demand for electric cars is in the economy.

The electric automobile maker chief executive officer, CEO Elon Musk recently went public in his official Twitter handle. He added that the move by the Hertz Global Incorporation that pushed the company valuation to over a trillion-dollar valuation did not push the demand for the electric car. Still, it pushed the increase in production for technologically advanced vehicles.

As the demand for the electric vehicle continues to rise, Tesla’s stock price closed at about $1024 .86, representing approximately a 12 percent increment from the previous stock valuation. The sharp rise in demand for Tesla-made vehicles pushed the company’s overall valuation to about $1.03 trillion.

It’s important to note that Tesla has witnessed massive growth recently, something relatively uncommon in the economy. The company rose from approximately $100 billion valuations in just 24 months to a trillion-dollar company, which took over a decade to establish other companies in that league. One such company is Amazon, as it took Jeff Bezos almost eight years to achieve a trillion-dollar valuation. The above success has pushed Elon Musk to the helm of being declared the wealthiest living man on earth.

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