Tesla Is Officially the Second Most Valuable US Car Company at $49.3 Billion USD

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Tesla, the 14-year-old electric automotive brainchild of co-founder Elon Musk, is reported with a market capitalization of $49.3 billion USD, beating out Ford at $44.3 billion USD and closing in on General Motors at $51.3 billion USD. The Palo Alto-based company focuses on sustainable transport and was founded in 2003, making Tesla roughly one-tenth of its competitors’ age — Ford was founded in 1903. While the company continues to accelerate and gear up for the the Model 3 release, Tesla’s value has climbed 30% since the start of this year, while Ford’s has increased 5%, reports CNN Tech.

[Via Hypebeast]

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