Tesla created the Model 3 and became the first automaker valued above $1 trillion.
Tesla’s market capitalization exceeded $1 trillion in October 2021 after its share price surged following a major vehicle-order announcement. The valuation milestone made Tesla the first automaker to pass that market-value level, although market capitalization changes with stock prices and does not represent the company’s annual sales or physical assets.
The Model 3 is a battery-electric sedan introduced as a more affordable mass-market vehicle than Tesla’s earlier Roadster and Model S. Deliveries began in 2017. Tesla also produces the Model S, Model X, and Model Y, as well as energy-storage products and solar technologies.
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning; Elon Musk joined as an early major investor and became chief executive in 2008. Its valuation has often moved sharply, making rankings based on a single trading day especially changeable.