Tesla became the first automaker valued at $1 trillion in 2021.
Tesla reached the milestone in October 2021 after its share price surged following news of a major vehicle order from Hertz. The valuation made Tesla the first car manufacturer to join the $1 trillion market-cap group, although its production volume remained smaller than that of several traditional automakers.
Tesla’s market value reflected expectations about future electric-vehicle growth, battery technology, software, charging infrastructure, and possible autonomous-driving revenue. Investors were valuing the company as a technology and energy business as well as a vehicle manufacturer.
The company was founded in 2003 and initially became known for the Roadster, its first production vehicle. Elon Musk joined Tesla early and became its chief executive in 2008.