Tesla: Market Capitalization, Plans, Share Market

Tesla: Market Capitalization, Plans, Share Market & New Launches

American automotive and clean energy company Tesla, Inc., started in 2003, designs and manufactures electric vehicles, battery energy storage, solar panels and other related services. The CEO of Tesla Inc, Elon Musk, is the richest person on the planet who has taken this company to its current position.

Market Capitalization:

Today, Tesla is considered the most valuable car company and the best-known car brand in the world. The current market capitalization of Tesla is US$ 760 billion.

Tesla May Operate 10-12 Gigafactories in Future.

Elon Musk, the CEO of Tesla, mentioned Tesla’s intention to construct more than 10 gigafactories in future. He also made a suggestion that at the end of this year, he would choose the location for the next gigafactory. Musk said the Full Self-Driving (FSD) beta advanced driver assistance system is already in production during Tesla’s late-Thursday “Cyber Roundup” annual shareholder meeting.

At the Cyber Roundup event at the Gigafactory Texas, the CEO went into great detail regarding Tesla’s vehicle manufacturing facilities. He stated that two other Tesla factories, the Gigafactory Berlin-Brandenburg and the Gigafactory Texas, both of which produce the Model Y, have opened this year. However, the Model Y, which is powered by 4680 battery cells stacked in structural groups, is created by the Gigafactory Texas plant only.

The north-eastern United States, India, and Indonesia have all been mentioned as potential locations for additional Tesla manufacturing. According to the Tesla CEO, the business aims to produce 2 million vehicles by the end of this year. Tesla’s next Gigafactory will be located in Canada, according to Musk.

Tesla Inc. Shareholders Approved a Three-For-One Stock Split:

Tesla Inc. shareholders authorised a three-for-one stock split on Thursday in a bid to attract even more regular investors after a rapid rise since late May. Although the Austin, Texas-based company did not immediately announce when it will take effect, the split will bring Tesla’s share price down to about $300. On March 28, Tesla first tweeted about their strategy.

The four-month gap between the announcement and voting is working in the favour of the decision: The Nasdaq 100 Index has increased by about 20% from its low in June thanks to a rally in growth firms, while Tesla has outperformed both the tech-heavy index and the more general S&P 500 Index, rising by almost 50% since its low in late May. As of 6:34 p.m. in New York, Tesla increased by 0.3% in after-hours trading to $928.55. As of Thursday’s closing, the stock has increased 37 percent since the end of June, continuing its recent upward trend.

New Launches set for 2023:

Elon Musk has finally established a robust schedule for Tesla to put the Cybertruck, Roadster, and Tesla Semi into production in 2023 after postponing the introduction of nearly all new vehicles over the previous five years.

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Model S, Model 3, Model X, and Model Y are the same models that Tesla has been offering for a time. Tesla’s CEO Elon Musk stated that the company would not introduce a new product in 2022 since it is concentrating on increasing the output of its current automobiles. Both the new Roadster and the Cybertruck have a very preliminary release date of 2023. Musk provided a more precise release date for each of the cars at the Cyber Rodeo event:

“Production of Cybertruck is coming next year. We will be in production with Roadster, and with Semi. That’s all coming. This year is all about scaling up and next year there’s going to be a massive wave of new products.”

The Tesla vehicles will be launched in India in 2023-24.