This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-51214824
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Tesla market value passes Volkswagen to hit $100bn | Tesla market value passes Volkswagen to hit $100bn |
| (32 minutes later) | |
| Tesla has displaced Volkswagen as the world's second most valuable carmaker, after a dramatic rise in share price pushed its market value to more than $100bn ($76.1bn). | Tesla has displaced Volkswagen as the world's second most valuable carmaker, after a dramatic rise in share price pushed its market value to more than $100bn ($76.1bn). |
| The milestone sets the stage for chief Elon Musk to collect billions in pay tied to hitting that target. | The milestone sets the stage for chief Elon Musk to collect billions in pay tied to hitting that target. |
| Tesla's share price has more than doubled since October, when the firm reported a rare quarterly profit. | Tesla's share price has more than doubled since October, when the firm reported a rare quarterly profit. |
| Shares rose 4% on Wednesday, making its valuation second only to Toyota. | Shares rose 4% on Wednesday, making its valuation second only to Toyota. |
| Some analysts say the rise in price reflects the firm's performance in recent months, during which it has opened a factory in Shanghai and met its production goals. | Some analysts say the rise in price reflects the firm's performance in recent months, during which it has opened a factory in Shanghai and met its production goals. |
| This month, Tesla said it had delivered more than 367,500 cars last year - up 50% from 2018. Investors expect the new factory to act as a springboard that will allow it to capture more of the Chinese market. | This month, Tesla said it had delivered more than 367,500 cars last year - up 50% from 2018. Investors expect the new factory to act as a springboard that will allow it to capture more of the Chinese market. |
| Despite the increase, Tesla's sales remain a fraction of its competitors. | Despite the increase, Tesla's sales remain a fraction of its competitors. |
| Volkswagen delivered almost 11 million vehicles last year, while Toyota sold more than 9 million in the first 11 months of 2019. | Volkswagen delivered almost 11 million vehicles last year, while Toyota sold more than 9 million in the first 11 months of 2019. |
| Tesla has also never made an annual profit and it is facing investigations after complaints about battery fires and unexpected acceleration. | Tesla has also never made an annual profit and it is facing investigations after complaints about battery fires and unexpected acceleration. |
| The company is due to report its latest quarterly results to investors this month. | The company is due to report its latest quarterly results to investors this month. |
| If Tesla sustains the $100bn valuation, it could unlock the first piece of a $2.6bn compensation package for Mr Musk. | If Tesla sustains the $100bn valuation, it could unlock the first piece of a $2.6bn compensation package for Mr Musk. |
| The plans calls for Mr Musk to receive payouts in shares over 10 years, with the first award contingent on the firm reaching $100bn in market capitalisation and sustaining that value over both a month, and six-month average. | The plans calls for Mr Musk to receive payouts in shares over 10 years, with the first award contingent on the firm reaching $100bn in market capitalisation and sustaining that value over both a month, and six-month average. |
| Tesla also had to reach $20bn in revenue and earn $1.5bn, after adjusting for items like taxes - thresholds the carmaker reached in 2018. | Tesla also had to reach $20bn in revenue and earn $1.5bn, after adjusting for items like taxes - thresholds the carmaker reached in 2018. |
| Tesla was valued at about $55bn when the pay deal was approved. |