Tesla More Valuable Than Exxon

Tesla More Valuable Than Exxon

The Palo Alto, California-based EV manufacturer delivered 90,650 vehicles, easily smashing the Wall Street consensus of 83,000 units. The highest forecast was for ~86,000 units.

The latest rally means TSLA shares have nearly tripled in the year-to-date, giving the company a valuation bigger than that of oil and gas giant ExxonMobil (NYSE: XOM) at $224.05B vs. $186.38B. In sharp contrast, XOM stock is down 36.8 percent YTD.

Further, Tesla’s market cap is now bigger than Toyota Motor’s $205.2B, making it the most valuable automaker in the world.

It’s also several times bigger than the combined valuation of the U.S. ‘Big Three’: General Motors (NYSE: GM), Ford Motor Company (NYSE: F) and Fiat Chrysler Automobiles US (NYSE: FCAU) with market caps of $36.12B, $24.07B and $20.13B, respectively.

By Alex Kimani for Oilprice.com

Source /Full Report : How Tesla Became More Valuable Than Exxon