This archive report was first published on 6 July 2020.
On July 6, 2020, Tesla's shares reached a record high of $1,133, propelling the company's market capitalization to $209.47 billion, surpassing Toyota's market value of $203.47 billion.
As of 2020, Tesla's market capitalization is more than triple the combined value of U.S. automakers General Motors Co and Ford Motor Co.
Elon Musk's electric carmaker has seen a significant rise in investor confidence, with shares increasing by over 163% since the start of 2020.
Despite the challenges posed by the coronavirus pandemic, Tesla has delivered three consecutive profitable quarters since the third quarter of 2019 and has maintained its forecast of delivering at least 500,000 vehicles in 2020.
