Tesla’s market value soared past $540-billion this week — equivalent to 250 times its expected earnings this year — meaning it’s now the world’s 10th most valuable listed business.
Shares in Tesla have surged 40% since 16 November, when it was announced the electric car maker would join the S&P 500 in December.
Tesla’s eye-popping run has left stock prognosticators in the dust, brought smaller imitators along for the ride and triggered a race by entrants new and old to cash in.
It took Tesla about 15 years to rack up US$5-billion in losses. The company known as China’s Tesla did it in four.
At this year’s Beijing Auto Show, a retired Chinese bureaucrat bent down to run his hands over the hood of a sleek sports coupe billed as the world’s fastest battery-powered car, and he smiled like a proud father.
In the race to the autonomous revolution, developers have realised there aren’t enough hours in a day to clock the real-world miles needed to teach cars how to drive themselves. Which is why Grand Theft Auto V is in the mix. The blockbuster