Tesla is officially the most valuable US carmaker ever

In 2019, Tesla was predicted to go bankrupt. Market analysts and doomsayers were convinced that Elon Musk was going to tank the company and ensure the electric car specialists would run out of battery. But barely six months later, it has been named most valuable US car maker ever.

The share price currently stands at a whopping $86.5 billion. This figure crushes Ford’s previous record of $76.1 billion and shows that investors are keen to back the eco-friendly vehicles right now.

But how did it make such a swift three-point-turn?

Reverse fortunes

While I won’t pretend to understand the stock market, it’s fairly easy to spot the pivot to success. As the market leader, and somewhat trailblazer, most people were watching and waiting to see how, if at all, the big established petrolheads would respond.

Using 2019’s motor shows as a barometer, it would appear the future is indeed electric. BMW, Mercedes and Lamborghini are just a few names committed to electrical vehicles. But banking on the already established Tesla to stay ahead of the pack is a no-brainer.

And despite the rather comical unveiling of it, the Cybertruck has pulled in more than 250,000 pre-orders. Quite the feat considering its not released until 2021.

It’s not just great news for Elon Musk’s bank account, it’s great for the planet too. All this investment and popularity will only serve to reduce climate change and keep Earth from self-combusting.