October 20, 2020
car

Thank Tesla for helping create the growing EV market

  • 17-year-old Tesla has become the dominant electric carmaker in the world because it took on huge risks. But it’s now reaping equally huge rewards.
  • With the global EV market poised for growth, automakers are salivating over new sales, and they have Tesla to thank.
  • Tesla still faces considerable risks, but it has validated Elon Musk’s vision. In Q3, the company delivered 139,300 vehicles, putting it on a pace to sell more than 450,000 in 2020.
  • Visit Business Insider’s homepage for more stories.

 

Take the risk, reap the reward — that’s what Tesla is now experiencing, as its market capitalization has surged to nearly $400 billion in 2020, making it the world’s most highly-valued automaker.

To borrow some of Tesla’s lingo, the risk was insane, the reward ludicrous. But it’s not the only one enjoying the benefits. 

A decade ago, no major automaker was going to bet on a non-existent electric-vehicle

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