Tesla Inc.
Tesla Inc. was founded in 2003 by a group of Silicon Valley engineers who set out to develop a new electric vehicle company.
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Tesla’s 2020 success shows the future is battery metals
Tesla Inc (NASDAQ:TSLA) (FWB:TL0) went public in mid-2010, closing its debut day on the NASDAQ at US$3.84.
Its share price and market cap rose steadily over the next decade and closed 2019 at US$86.05 per share.
And while the demand for electric vehicles - and their constituent battery metals - has continued its inexorable rise over this time, no one could have foreseen Tesla's meteoric rise in 2020, particularly given a global pandemic.
Yet despite all the odds, Tesla shares closed 2020 worth US$705.67 a pop - an eye-bulging 743 per cent gain year-on-year (and a modest 18,277 per cent gain on that first-day close back in 2010).
The reasons for this rise are obvious on the surface. Tesla makes the world's most popular electric vehicles, which are in huge demand as governments around the world scramble to bring down carbon emissions to combat climate change.
The fourth quarter of 2020 was Tesla's best quarter ever. It produced 179,757 cars and sold 180,570 of them.
For the 2020 calendar year, Tesla sold 499,550 electric vehicles, agonisingly shy of its target of 500,000, but it produced 509,737 cars, surpassing its target.
And while Tesla sales only account for around 3 per cent of total new car sales in the US, according to Stock Apps, it is the undisputed leader in electric vehicle sales - its' Model 3 and Model S are two of the best three selling electric vehicles globally of all time, with only the Nissan LEAF providing any sort of competition.
