The electric automaker is valued at $52.08 billion.
After surpassing Ford in late March with a record market capitalization of $45.47 billion, Tesla is now reportedly worth more than auto giant General Motors, so says Wall Street. GM currently sits at $51.23 billion, while Tesla has a total valuation of $52.08 billion.
According to our partners at InsideEVs, Tesla is now the highest valued American automaker, and falls only slightly behind Honda in overall value; the Japanese automaker has a market valuation of $53.08 billion. Even more impressive is that Tesla stock is currently over $300 for the first time ever. A high of $303.70 was achieved at 11:09 AM EST this morning. You can keep track of Tesla stock in real time at the link.
This recent boom in stock and overall value can be attributed in part to the company outperforming sales in quarter one, delivering more than 25,000 EVs, a 69 percent increase from 2016. Not to mention the upcoming arrival of the highly-anticipated Model 3. Still, the company has yet to post a full-year profit in its relatively short 13-year history.
First deliveries of the Model 3 are expected to take place in July, with production ramping up later in the year to satisfy the more than 325,000 pre-orders. Though we still don’t know all the details about the upcoming "more affordable" EV, rumors suggest it will have a range of at least 215 miles (346 kilometers) and a price tag of around $35,000.
Already we've seen the Model 3 testing on public roads, and the company has managed to raise $1.2 billion in capital to fund the launch.