During Wednesday’s Afternoon trade, Shares of Tesla Motors Inc (NASDAQ:TSLA), dropped -1.00% to $217.00. The firm opened its current trade at $220.67, and as of now, it is trading at $216.79. The total volume traded for the day is 2.61M shares, as compared to its average daily volume of 4.21M shares. The stock is floating in a range of $215.43 - $220.95. The stock holda the market capitalization of $28.32B.
Tesla Motors, Inc. was established with the aim of facilitating the transition of the automobile market to environment-friendly electric vehicles. It is the only automaker that limits itself to producing electric vehicles and stays away from gasoline, diesel, hybrid and even hydrogen fuel cell vehicles. According to Zacks
Yet, in its short 12-year lifespan, Tesla has managed to create a strong brand name, generate tremendous brand loyalty and gain global media attention that rivals those of well-established veterans like Ford Motor Co. F and General Motors Company GM. In fact, Tesla has even been contrast to Apple Inc. (NASDAQ:AAPL) (-1.25%), and its CEO Elon Musk to visionary Steve Jobs.
This raises the question whether the company can revolutionize the automotive world as Apple did in the technology sector. Tesla loyalists would say that it is already doing so, and in many ways, this is true. The company has set new performance benchmarks for electric vehicles and played a major role in popularizing this product category in the luxury vehicle market. Zacks Report
To popularize electric vehicles, Tesla is even developing a network of Superchargers that provide free and fast charging to vehicle owners, incurring high capital expenditure in the process. Further, to deal with the shortage of lithium-ion batteries, the company has been constructing a $5 billion Gigafactory in Nevada to produce the batteries, in partnership with various partners. The factory will produce enough battery packs to allow Tesla to build around 500,000 electric cars by 2020.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide.
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