New Delhi: The market capitalisation of Tesla surged past USD 1 trillion for the first time ever on October 25. This has put the American EV (electric vehicle) manufacturer in an elite club of companies, which includes the likes of Microsoft, Alphabet (Google’s parent), Apple, Amazon and Facebook, having a market valuation of over USD 1 trillion.Also Read - Google 2021 Year in Search: Covid Vaccine, Squid Game Among Top Searches | Deets Here
Tesla is the second-fastest company to breach the USD 1 trillion market capitalisation mark after Facebook. The EV maker made its public debut in June 2010 and has taken a little over 11 years to cross this milestone. Also Read - Google Rolls Out Voice, Video Call Features To Gmail App
With Tesla’s shares closing nearly 13 per cent up at a record USD 1,024.86, the company’s market capitalisation shot past USD 1 trillion. This was also the made occasion when Tesla’s share price reached USD 1,000 per share. The major push came from the news that car rental giant Hertz will buy 100,000 EVs from Tesla. Also Read - Facebook Messenger Kids Brings Dark Mode With Other New Features
For the uninitiated, Tesla sells EVs like the Model 3, Model Y, Model S and Model X. The automaker had showcased Cybertruck back in November 2019, while its production will reportedly start in late 2022.
Tesla In India: Model 3 Launch In India
Tesla is expected to launch the Model 3, which is the largest-selling electric car in the world, very soon in India. In the US market, the Model 3 is available in Standard Plus (RWD), Long Range (AWD) and Performance (AWD) variants. The Standard Plus has a claimed range of 423km and a top speed of 225kmph. The Long Range has a claimed range of 568km and a top speed of 233kmph. The Performance has a claimed range of 507km and a top speed of 261kmph.
The EV manufacturer has been urging the Indian government to slash import taxes on EVs. Tesla executives recently met the Indian government officials to reportedly discuss high import taxes on EVs and requested them to be reduced.
An import tax of 60 per cent is levied by the Indian government on EVs priced up to USD 40,000 and 100 per cent on EVs with a price tag of over USD 40,000. For reference, the India-bound Tesla Model 3 is priced between USD 43,990 and USD 57,990 (purchase price).
Following are the variant-wise Tesla Model 3 prices (purchase prices, USA).
- Standard Plus – USD 43,990
- Long Range – 49,990
- Performance – 57,990