Tesla becomes the world’s most valuable automotive manufacturer

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Lerato Khumalo

According to the information compiled by the AA correspondent from companiesmarketcap.com, the list of the world’s 50 most valuable automotive manufacturers consists of companies with a market value of over 1 billion dollars, while two Turkish automobile manufacturers are also included in the list.

According to the data on the site, the US electric car manufacturer Tesla comes first on the list with a market value of 1.37 trillion dollars. Tesla, owned by Elon Musk, stands out as an automotive company that designs, produces and sells electric vehicles.

In the list, Toyota is in the 2nd place with 240 billion dollars, Xiaomi is in the 3rd place with 111.9 billion dollars, BYD is in the 4th place with 110.1 billion dollars, Ferrari is in the 5th place with 78.2 billion dollars, Porsche is in the 6th place with 58.4 billion dollars, 7. Mercedes-Benz is next with 57.7 billion dollars.

General Motors ranks 8th on the list with 56 billion dollars, BMW ranks 9th with 52.4 billion dollars, and Volkswagen ranks 10th with 50.7 billion dollars.

Although Xioami ranks 3rd on the list, most of the company’s revenues come from other technology products. The company, which announced that it will enter into electric vehicle production in 2021, launched the electric sports car model called “SU7” last year.

Two Turkish automobile manufacturers also found a place on the list. Ford Otosan, with a market value of 9.1 billion dollars, ranks 38th in the list, while other Turkish automobile manufacturer Tofaş ranks 47th with 3 billion dollars.

17 OF THE TOP 50 AUTOMOTIVE MANUFACTURERS ARE CHINESE

The world automotive industry is experiencing a major transformation with the increase in electric vehicle production.

The list of prominent players in the global market includes not only classic manufacturers but also new generation companies making large investments in electric vehicle production.

This change in electric vehicle technologies radically changes the competitive balance in the sector. While traditional automobile giants are trying to maintain their market share with innovative models and driverless technologies, the rise of Chinese companies is noteworthy.

Of the top 50 automobile manufacturers with the highest market value, 17 are Chinese, 8 Japanese, 6 American, 4 German and 3 Indian companies.

The list includes two companies each from South Korea, Sweden, Turkey and Taiwan, and one each from France, Italy, the Netherlands and Vietnam.