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2020-01-09 13:00

Compiled by: Robin Classen

Image: AFP / Patricia De Melo Moreira

Electric car company Tesla made history of a different kind when a look in its stock gave the company a higher market value than that of General Motors and Ford combined.

According to Reuters, its stock jumped up by nearly 5% which equates to $492.14 per share, elevating its market capitalisation to almost $89 billion, or $2 billion larger than the sum of General Motors’ and Ford’s respective market caps of $50 billion and $37 billion.

Earlier this month, Tesla CEO, Elon Musk, presented the first batch of made-in-China cars to ordinary buyers on Tuesday (7 Jan 2020) in a milestone for the company's new Shanghai "giga-factory".

Many people still have swayed opinions about the Silicon Valley-based electric car maker in relation to incidents involving self-starting fires and the mishap involving its new 'Cybertruck'.


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