Ford, the venerable automaker, has been surpassed by Tesla in terms of stock market value, according to a report in today’s Wall Street Journal. Tesla, the WSJ points out, is exactly 100 years younger than the electric-, autonomous-car startup, founded by Elon Musk.
“Shares in Tesla were up 7.3 percent at $298.52 Monday, pushing the California automaker’s market capitalization to $48.7 billion, above the Michigan company’s roughly $45.5 billion, according to FactSet. The next milestone for Tesla would be General Motors Co. , valued at roughly $51.2 billion,” the WSJ reports.
The report comes on the heels of Musk pledging to first ramp up production of his company’s $35,000 Model 3 and outsell both the BMW 3 Series and Mercedes C Class — in one year.
Musk also has forecasted that his company will produce 500,000 vehicles in total in 2018.
