Elon Musk at the Model Y launch in 2019. Source: Tesla
Californian EV maker Tesla has traded as a $US100 billion ($A146 billion) company for the first time as stocks surged to more than $US550 ($A812) in after hours trading on Tuesday evening (US time).
The value of Tesla stocks have been on a solid upturn in past weeks, and has now more than tripled since its 2019 June low of $176.99 ($A259.01) ahead of a report on its final earnings for 2019 and future outlook on Wednesday week (US time).
This latest surge makes Tesla now the first publicly listed US carmaker valued at more than $100 billion in history, and will also see Tesla CEO and co-founder Elon Musk unlock a series of “moonshot award” tranches if the valuation is sustained at that level for both a one-month and six-month average.
The pay package will be paid in 12 increments starting from $US100 billion to $US650 billion ($A950 billion), with the new valuation putting Musk a step closer to a $US346 million ($505 million) payday no doubt giving the visionary entrepreneur yet another reason to dance.
Noted in a tweet by Bloomberg electric vehicle reporter Tom Randall, the $US555 stock value is an indication of the confidence in the pioneering car maker which reported another record quarter for deliveries in Q4 2019 on January 3, and is expected to bring to market its latest Model Y in Q1 2020.
To read the full story on RenewEconomy’s electric vehicle dedicated site, The Driven, click here…
How would Freud diagnose the pro-nuclear and anti-renewable lobbies? Do not be surprised if it…
Victorian power distributors say they want to be among the first in the world to…
Transgrid’s massive HumeLink transmission line, considered crucial to unlocking capacity of Snowy Hydro 2.0, has…
US Department of Energy has eroded the fossil fuel industry's arguements for ramping up fossil…
New rule change is progress for Australian consumers seeking to get the most out of…
Goldwind says its first 22 ME offshore wind turbine will be a "weapon" on costs,…