Tesla races past $100 bln in market valuation

Tesla moves a step closer to opening first European factory with German property deal

A few days after Tesla became the most valuable vehicle manufacturer in the USA, it set another record when its market capitalization surged past $100 billion. By meeting ambitious market capitalization and operational milestones, he could earn more than $50 billion over the next decade if that value hits $650 billion.

Trump hailed the SpaceX and Tesla CEO in an interview with CNBC's Joe Kernen at the World Economic Forum in Davos, Switzerland, calling the billionaire tech pioneer a "genius" who ranks up there with Thomas Edison.

Although Musk does not receive a salary from the company, he now owns 34 million shares of Tesla - roughly a fifth of the company - and could stand to gain 20 million more if all of his options vest. So how come that Tesla is worth more than its rivals that sell 30 times more cars?

In the third quarter, Tesla posted a surprising US$143m profit, raising hopes that the company, which also makes battery storage units, could finally be turning the corner to profitability.

Tesla is generally perceived to be at the forefront of that change.

The Tesla Model 3 electric auto is created to be more affordable than its earlier models - around half the cost of the $70,000 models - and is fueling expectations of stronger growth.

The Tesla founder, Elon Musk, has taken the first step to becoming $50bn (£38bn) richer, after the value of the electric vehicle company surged past $100bn.

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It "speaks to the inflection in electric vehicle demand globally", Wedbush Securities analyst Daniel Ives wrote in an email.

Trump also said that he expects Musk and Tesla to build another giant manufacturing plant in the United States.

Tesla is set to report its earnings on January 29 after markets close. He raised his price target by $270 to $800, the highest among analysts surveyed by Bloomberg.

Still, some analysts say Tesla is hugely overvalued, as its output is only about 3 percent that of Toyota or Volkswagen.

According to Bloomberg figures, consensus forecasts for Tesla of $363.92 are still well below where Tesla shares are now trading, with just 10 analysts rating the stock a buy, compared with 10 holds and 16 sells.

Though Mr Musk's firm has some methodology to pass to take up with the Japanese vehicle making huge.

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