Earlier this week, Tesla announced another record quarter with 112,000 vehicles delivered worldwide. That sent the price of TSLA shares to record high, reaching above $450 for the first time, eventually closing the week at $443 per share.
With that boost, Tesla’s market capitalization is now at $80 billion (via Quartz), keeping it the most valuable automaker in the US just sixteen years after it was formed.
It wasn’t that long ago that Ford Motor Company was valued higher than Tesla. In April 2017, Tesla first overtook Ford in terms of market cap, and just 8 months ago they were valued around the same amount. Now Tesla is valued twice as much as Ford, which has been around for 116 years, which has a market cap of $37 billion.
Ford will be introducing their first electric vehicle later this year, the Ford Mustang Mach-E. Ford has reported their limited run ‘1st Edition’ Mach-E is already sold out with 50,000 reservations. It is available in Canada for between $50,495CDN for the lowest ‘Select’ model, to $71,995CDN for the sold-out 1st Edition.