Tesla Surpasses Toyota to Become the Most Valuable Car Company (Comprehensive)

Tesla Market Cap $209 Billion Surpasses Toyota's $207 Billion
Claims Top Spot Six Months After Overtaking Volkswagen in January
Stock Price Rises from $17 to Over $1100 in 10 Years Since IPO

Tesla Model 3 [Image source=EPA Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Bloomberg reported on the 1st (local time) that the market capitalization of U.S. electric vehicle company Tesla surpassed Japan's Toyota, taking the top spot in the industry.

As of 10:35 a.m. that day, Tesla's stock price on the Nasdaq market was trading at $1,127, up 4.37% from the previous day. Its market capitalization reached $209 billion.

Meanwhile, Toyota's stock price on the Tokyo Stock Exchange fell 1.6% compared to the previous day. Its market capitalization was limited to $202 billion, allowing Tesla to overtake it.

In January, Tesla surpassed a market capitalization of $100 billion, overtaking Volkswagen, the world's largest automaker by sales, to rise to the second place in the global automotive company market capitalization rankings. Then, after about six months, it surpassed Toyota as well, ultimately taking the number one spot in market capitalization. This achievement was reached exactly 10 years after Tesla's successful IPO on June 29, 2010. At the time of listing, Tesla's stock offering price was $17.

Tesla's stock price exceeded $900 in February but plunged to $350 within a month due to the COVID-19 crisis. Since then, it has shown continuous strength, breaking through the $1,000 mark and continuing to rise relentlessly.