Tesla Stock Exceeds $1 Trillion in Market Cap


When Tesla was founded in 2003, and years later, the chances for electric car sales to increase seemed slim. Other automakers saw electric cars primarily as gas-saving vehicles, but Tesla dreamed of using electric power to make fast, exciting and futuristic luxury vehicles. The company has also designed its cars to be almost entirely controlled by software that can update and modify it the way smartphones can. The concept led to a zealous pursuit of customers and investors.

But just four years ago, Tesla announced that its CEO, Mr.manufacturing hell

Even after Tesla had corrected manufacturing difficulties, it remained on shaky financial ground and had to raise capital several times. Mr Musk said Tesla was just weeks away from financial collapse as it tried to produce the Model 3 compact sedan in spring 2018.

But the Model 3 was a hit, and the company’s profitability steadily strengthened when Tesla opened a new factory in China in late 2019. It is building additional factories near Berlin in Austin, Texas and Germany.

How much higher Tesla stock can go is open to discussion. The company’s sales continue to rise, and it is on track to sell close to one million cars this year. However, it still faces many challenges; one of them is further examination of Autopilot and so-called Full Self Drive systems.

Using cameras to steer and brake a car with little help from a driver, the autopilot sometimes cannot see other vehicles; it’s a flaw that has led to a number of accidents, some of them fatal. National Highway Traffic Safety Administration, Investigating why autopilot sometimes fails to see stopped emergency vehicles. It looks at 12 examples of Teslas in autopilot mode crashing into police cruisers or fire trucks while their lights are flashing.

On Monday, the National Transportation Safety Board rebuked the company in a letter to Tesla for failing to make the safety improvements for Autopilot, which the agency outlined four years ago.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *