Sina American Stock Exchange News Beijing time 22nd newsTeslaShares rose further in after-hours trading on Tuesday, reaching $555 at one point, with a market capitalization of more than $100 billion, becoming the first car company with a market capitalization of more than $100 billion, underscoring Wall Street's confidence in the future of electric vehicles.

The milestone came less than a month after Tesla, Inc. 's share price broke through the $420 mark.

Tesla, Inc. 's shares closed up 7.2% on Tuesday as brokerage New Street Research raised its target price to $800. The stock rose a further 1.4% to $555 in after-hours trading.

With Tesla, Inc. 's market capitalization topping $100 billion, Mr Musk is one step closer to winning his first options of $346 million in a record compensation package.

According to Musk's compensation plan for the next decade approved by Tesla, Inc. at the special shareholders' meeting on March 21, 2018, Musk does not have any salary or cash bonus. If he can lead Tesla, Inc. to achieve many of his expected goals, he will get about 20.3 million stock options, accounting for about 12% of Tesla, Inc. 's outstanding shares on January 19, 2018.

Moreover, there is an incentive clause in the plan. Tesla, Inc. 's market capitalization must reach $650 billion within 10 years, but this goal can be achieved in 12 phases, with a market capitalization target of $100 billion for the first phase and a market capitalization increase of $50 billion at a time. Each time he achieves his goal, Musk will receive a return reward of about 1.69 million shares.

If Tesla, Inc. can maintain a market capitalization of $100 billion on an average of one month and six months, Musk will receive the first stock awards.