Even during a pandemic, the resulting economic crisis, in which 40 million people became unemployed in just two months in the USA alone, and with the ongoing mass protests throughout the country, another milestone was almost lost by the public: Tesla’s market capitalization is higher than that of Daimler, BMW and Volkswagen combined.
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With this value, Tesla is only just under 8 billion dollars (5 percent of the total value) behind the most valuable automobile company Toyota, which has a market value of 174.29 billion. Tesla is also worth more than the most valuable German company, SAP, whose market value is $154 billion.
The successful first manned flight of the SpaceX Dragon Crew to the International Space Station ISS, a company founded by Tesla CEO Elon Musk, is said to have contributed to this rally in Tesla shares. The two astronauts Bob Behnken and Doug Hurley drove to their Falcon 9 rocket in a white Tesla Model X at the Kennedy Space Center in Florida in a stylish way and a brilliant advertising tactics. Elon Musk’s visions and the quality of implementation increased the investors’ confidence in Tesla.
At the same time, the negative news is coming thick and fast for German manufacturers who have either postponed or completely abandoned their own efforts towards electric mobility and autonomous driving, who are suffering from software problems, such as Volkswagen with the electric hope ID.3, and who, thanks to the ruling of the German Federal Supreme Court, are now facing a wave of lawsuits and compensation payments in the billions in the context of the diesel scandal. The latter seems to come as a surprise only to the German automotive industry.
The purchase subsidies in Germany planned as economic relief aid for the effects of the Corona crisis are also to benefit Tesla, especially because the subsidy is tied to low emission vehicles – of which only a few models are available from German manufacturers, and certainly not in sufficient numbers.
This article was also published in German.