Have they been stung? As Tesla’s share price has climbed throughout 2020 – reaching stratospheric levels at the end of the year, incumbent automakers have since last fall stepped up announcements to unveil their strategy in the electric vehicle.
It was time. “Tesla’s astronomical valuation last year sent them a very clear message: wake up, otherwise you’re all dead at ten! Breathes an analyst. At the end of 2020, Tesla was worth three times more than Toyota on the stock market and six times more than Volkswagen, the two leading players in the sector by volume, with 10 million cars sold each year, against 500,000 for the Californian firm.