Elon Musk, the founder and CEO of Tesla Inc. (NASDAQ: TSLA), tweeted that the electric vehicle (EV) maker has produced 3 million cars. Tesla’s 20th anniversary is around the corner. The company made its first Model S in 2012. It became the world’s most valuable car company and has held that distinction ever since. The road briefly hardened when Tesla nearly went bankrupt in 2017, at least according to Musk.
[in-text-ad]
Tesla built its success on product quality and vehicles that, because of their design and advanced technology, drew customers by the hundreds of thousands. First, this happened in the United States and later in Europe and China. Part of the genius of the Tesla “ecosystem” was that people could charge their cars at home. This turned out to be particularly important when the number of nationwide charging stations was small.
Tesla shocked many skeptics as its market cap rose toward $1 trillion. Years before, its value surpassed that of every car company in the world. At the same time, brand valuation indexes showed that Tesla had the most valuable car brand in the world. This all happened while its EV sales dwarfed those of larger manufacturers, such as Toyota, Volkswagen and General Motors.
Remarkably, as other car companies have made attempts to catch Tesla in sales, all have fallen short. Startups such as Rivian and Lordstown Motors barely can claim they have viable futures. GM and VW have pledged to invest tens of billions of dollars to create all-electric fleets. Even with their scale, many doubt that any can catch Tesla in sales or market value.
24/7 Wall St.As outrageous as it seemed during Tesla’s early years, the company dominates the path to the future of the auto industry. Making three million cars means that Tesla can claim to have become a mainstream car company.
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.