From Inception into the Early 2000s
In the spring of 2017, the market cap of Tesla reached 59 billion U.S. dollars, compared to 52 billion U.S. dollars for General Motors and 44 billion U.S. dollars for Ford. As the stock price had risen 65 percent in the first few months of 2017 alone, many people thought this was overpriced, but nevertheless, it happened and stunned market-watchers. Reactions to this phenomenon were ambivalent because Tesla was in everyone’s mind, at a key point of transition (Tepper 2017). The demand for a mass-market car was still largely hypothetical. Tesla and other players still needed to demonstrate the ability to manufacture electric vehicles (EVs) at large scale. Only by reducing unit costs ...
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