Original title: Tesla's market capitalization once surpassed Daimler's ranking third among global car companies Source: Tencent Technology
Tencent Technology News Recently, there has been endless positive news about Tesla in the US, a leading company in the electric vehicle industry in the world, which has led to a sharp rise in the company's stock price and market value. According to the latest news from foreign media, Tesla's market value in early Wednesday trading once surpassed the established automobile company Daimler Group, the parent company of Mercedes-Benz, to become third in the world. However, Tesla's stock price later declined on the same day.
According to foreign media reports, although Tesla's stock price fell slightly by 1% on Wednesday, in recent times, Tesla's stock price has skyrocketed, recovering all of the losses since 2019, and the stock price has returned to the level at the end of last year.
On Wednesday morning, Tesla's stock price rose to the level of 355.6 US dollars, but later the stock price declined. According to media estimates, Tesla's capital market value reached 63 billion US dollars on Wednesday morning.
According to reports, this market value made Tesla the third largest automobile company in the world by market capitalization. On Wednesday morning, Tesla's market value surpassed Daimler Group's 62.78 billion US dollars.
The market capitalization ranking shows that currently the automobile company with the largest market capitalization in the world is Toyota of Japan (Toyota is also the automobile company with the largest sales volume), and its capital market value is 295 billion US dollars.
The German VW Group ranked second, with a market capitalization of US$98.9 billion. The market value of the Volkswagen Group is one-half higher than that of Tesla, and it is difficult for Tesla to surpass the VW Group in the short term.
Other automobile companies that rank after Daimler Group include: General Motors of the United States (market capitalization: 55.1 billion US dollars), Germany's BMW (market value: 52.4 billion US dollars), Japan's Honda (market value: 49.7 billion US dollars), and Italy's Ferrari (market value: 41 billion US dollars).
PRCSAIC Motor GroupWith a market capitalization of 38.4 billion US dollars, it ranked ninth in the list. The Audi company followed in tenth place.
In this ranking, Ford, Fiat Chrysler, Hyundai, Nissan, and French PSA are ranked from 11 to 15, respectively. The market capitalization of the French PSA Group is $23.5 billion.
The main reason for the rise in Tesla's stock price on Wednesday morning is that Musk, the head of the company, announced in Germany that he will build a second overseas electric vehicle factory in the Berlin region, and Tesla will also set up an engineering design center in Germany. According to German media, the factory may create 10,000 jobs.
Currently, Europe is the continent with the largest number of countries where Tesla sells, and Tesla has built a huge sales and service network.
According to foreign media reports, Tesla, a car manufacturer, has been successful in several European markets, but not so successful in Germany, where consumers often prefer cars made in Germany.
Until recently, however, German carmakers themselves did not sell many electric vehicles, as they mainly focused on plug-in hybrids.
German automotive companies have a clear advantage in the luxury brand sector. In the US market, Tesla has gained a presence in the luxury car market, but in many countries, the luxury car market is mostly dominated by German automakers.
Now Tesla hopes to achieve similar changes in the US market in Europe. It hopes to achieve this goal through a broader automotive product line and lower costs. Tesla's strategy is to build factories locally rather than import cars from California, USA.
According to reports, in the past, established German automobile companies were too disdainful of pure electric vehicle technology. Now, in the face of the rapidly changing global market, established automobile manufacturers have begun to invest more in pure electric vehicles in an attempt to replicate Tesla's success, but the electric vehicle industry generally believes that the investment of these established companies “came too little, too late.”
When Mercedes-Benz, a subsidiary of the Daimler Group, announced an investment of 1 billion US dollars to develop electric vehicles, Tesla CEO Musk joked that this investment still needs to be added to zero, or 10 billion US dollars.
In 2017, the Daimler Group announced that by 2022, they would invest $11 billion to develop 10 new electric vehicles.
Good news
Apart from building a factory in Berlin, Germany, Tesla recently had a lot of positive news. Among them, the company has announced that the Tesla electric vehicle factory in Shanghai, China has tested production, and that the first Model 3 (a rare blue coating) has gone offline. Before the end of the year, the plant is expected to obtain a production license and begin large-scale production.
Furthermore, Tesla previously announced its third-quarter earnings report. The sales volume of electric vehicles was close to 100,000 units. In addition, it ended two quarters of losses and achieved profit again. The favorable earnings report quickly led to Tesla's stock price soaring.
According to reports, Tesla's stock price has skyrocketed over the past few days, causing US institutions that have shorted Tesla to suffer heavy losses. Musk also recently posted an open letter on Twitter, making a relentless mockery of the short bosses. (Revised by Tencent Technology/Cheng Xi)