Tesla Is Worth More Than ExxonMobil, BP, Ford, VW, Nissan, and GM Combined
The company’s shares are now trading at 23,900% more than they were in 2010
Tesla is on a monumental, yearlong stock price tear, and here is one way to grasp the enormity of it: It is now worth as much as big oil companies ExxonMobil, Chevron, BP, France’s Total, and Italy’s Eni combined in addition to car manufacturers General Motors, Volkswagen, Ford, and Nissan. That is, the stock market values Tesla as much as nine of the primary legacy companies that stand to be perhaps existentially disrupted if demand for electric vehicles (EVs) rises at the pace a number of forecasters expect.
A few of these companies — BP, GM, and VW — are responding to the potential threat. BP has announced a pivot away from a profit reliance on fossil fuels, and VW especially appears to be remaking itself as an EV company. Last week, GM rolled out a new rebranding campaign featuring celebrity author Malcolm Gladwell and repositioning the automaker as a future EV-centric company.
ExxonMobil and Ford, meanwhile, seem prepared to take the gamble that EVs are mere huff and puff and won’t amount to as much as the others think.
