Business is booming for 85-billion-dollar Tesla
Tesla is worth over 85 billion dollars on the stock market. This makes the manufacturer of electric cars worth twice as much as Ford. Only Toyota and VW are bigger. The company also makes more profit than expected and sells more cars than ever before.
The future also brightens up financially. At the end of October, Musk presented figures that were much better than expected. Tesla recorded a net profit of 143 million dollars (129 million euros) in the third quarter, thanks to drastically reduced production costs.
Those record figures were hardly conceivable until recently. Tesla has been all over the news in the past few years. It did not reach its production targets due to problems in its factories, sales were disappointing, and Musk made headlines with all kinds of riots.
Today, the situation is completely different. Tesla sells more electric cars than any other brand, and Model 3 is the most popular electric car in the world. In the fourth quarter, the company was able to deliver 112.000 cars worldwide due to the imminent subsidy stop of electric cars. Throughout 2019, Tesla delivered 367.500 cars, half more than in 2018.
Model 3 also boosted Tesla in Belgium. The brand saw its sales grow by 320 percent to 3.690 cars last year.
Production is also no longer confined to the United States. With a brand-new mega-factory near Shanghai, Musk wants to gain a foothold in the largest car market in the world. He also bypasses import tariffs on American cars. The brand-new factory, which cost 2 billion dollars, built its first Tesla in a record 357 days.
In 2021, the first European Tesla should also roll off the production lines. In November, Musk announced that Tesla’s first European plant will be located in Germany, close to Berlin.