The wait is over: Tesla finally achieved one trillion-dollar market capitalization on Monday 25th October 2021 after signing the deal to sell one lakh vehicles to “Hertz”, the rental car company. It is estimated that this deal is worth four billion dollars approximately. Tesla is the fifth one to join the one trillion market club after Apple, Microsoft, Amazon, and Alphabet.
When it comes to naming some of the world’s renowned carmakers Tesla is surely one of them. After many years of hard work and determination when Tesla came under the supervision of Elon Musk last year, the company started to make huge profits, and this prompted the company shares to rise. While considering the above facts we can now start thinking about Tesla reaching three trillion dollars also if it keeps on excelling at a similar momentum.
Tesla’s Progress and Profits
The investment of Elon Musk in Tesla is twenty-three percent which is equivalent to two hundred and thirty billion dollars. Though today the worth of Tesla is fifty-nine billion dollars Musk aims to expand it to six hundred and fifty billion dollars. Moreover, after the confirmation of the deal with Hertz the shares have risen by nearly thirteen percent.
Hertz will not only pay for the electric vehicles rather would establish the chain of charging stations too. The demand for electric vehicles is increasing rapidly globally which would be in favor of Tesla. In comparison with other trillion club companies, Tesla took the least time to enter one trillion market capitalization. It took twenty-three years for Amazon to hit this high but only eleven years by Tesla.
Tesla is the only car manufacturer that attained this rare level of success in the market. Its worth is equal to the nine largest car manufacturer’s market capitalization. With this excelling rate, Tesla would soon enter the three trillion-dollar club.
Future Goals and Plans to Be Accomplished
The sales target has been set to grow by fifty percent. More than twenty million vehicles are expected to be sold annually. Apart from vehicular progress, the industries would also be revolutionized. It is predicted by Elon Musk that the automation which is coming due to robots and artificial intelligence (AI) would be capable of doing everything and may displace the need for the human workforce.
A dream which humans were trying to accomplish over the decades, of going and living on other planets like Mars is close to becoming a reality. Hence, according to Elon Musk interplanetary living would be possible and a colony would be built on Mars. SpaceX is claiming to send its first rocket to Mars in 2022. Later, in 2024 when Mars and Earth’s orbit would sync the crew would also go.
Over time these crews will form colonies on Mars. Furthermore, Elon has recently proposed the idea of using rockets as airplanes to travel around the world. After the traveling experiments were conducted between the farthest countries around the globe, the results showed a travel time of thirty minutes. Therefore, a rocket flight would not be a bad option to travel anywhere you want to within just thirty minutes!
After knowing the future aims of Tesla, we can now start looking forward to its three trillion success news. It seems a difficult milestone to be aced but Elon’s confident statements and claims are the sign that its high time and now people should start thinking about Tesla at three trillion dollars. Tesla has proven to be the best in the past years and this time also it is expected to outstand and to enter the three trillion-dollar club soon.