Tesla became the first electric-car maker to exceed a US$1 trillion market capitalization.
Tesla passed US$1 trillion in market value in October 2021 after a sharp rise in its share price. The move followed strong investor enthusiasm about electric-vehicle growth and a large vehicle order from Hertz.
Tesla was founded in 2003 and became a major force in electric cars through models such as the Model S, Model 3, Model X, and Model Y. It also sells batteries, charging products, and solar-energy systems.
The milestone describes Tesla’s market value, not the number of vehicles it sold. Toyota and Volkswagen have historically sold more vehicles overall, while BYD became another major electric-vehicle competitor. Market capitalization can therefore reflect expected future growth as well as current production.