Tesla became the first electric-vehicle maker valued at more than $100 billion.
Tesla crossed the milestone in January 2020 as its share price climbed on stronger-than-expected deliveries, improving production, and confidence in the company’s international expansion. Its Shanghai factory also reinforced expectations that it could manufacture vehicles at much larger scale.
Tesla’s rise was notable because it was still far smaller in vehicle output than established manufacturers such as Toyota, Volkswagen, and General Motors. Investors were valuing expected future growth in electric vehicles, batteries, charging, and software rather than comparing only current sales.
Tesla was not the first company to make an electric car, and it does not represent every electric-vehicle manufacturer. The distinction is specifically about an automaker whose public market value passed $100 billion.