Tesla Has Just Become More Valuable Than Ford

We can’t quite believe we’re bringing you this news, but Tesla, a tech brand that currently only makes two models of car, is now worth more than Ford.

After Tesla shares jumped seven per cent yesterday following the announcement of record deliveries in the first three months of the year, the company’s value ended the trading day at $49 billion, while Ford’s sat at $46 billion.

Despite delivering just 76,000 cars last year compared to Ford’s 6.7 million, Tesla’s investment in driverless technology, battery technology, its Gigafactory in Nevada, renewable energy and general forward-thinking has brought about a dramatic leap in its value.

Since 2012, the company’s share prices have risen from around $30 to their current position, knocking on the door of $300 per share. The price was also bolstered by Chinese firm Tencent’s decision to pour $1.78 billion into a five per cent share of the firm last month.

Tesla delivered more than 25,000 cars from January to March, in what looks likely to be the start of the firm’s best-ever year.