Tesla overtakes Volkswagen to Become the World’s Second Valuable Car

Tesla has displaced Volkswagen at second position  as the world’s second most valuable car after its dramatic rise in its value of share price in the market for more than $ 100bn (76 Euro’s).

Its share price valuation has increased by doubling since October when they announced their quarterly price.

Although Tesla has a long way to reach the stock market valuation of Toyota which is more than $ 230bn, the increment sets a stage for Mr. Elon Musk to get payment of billions for maintain and hitting that target.

Last week on Wednesday, Tesla shares rose 4%; a rise attributed to its recent opening of a factory in Shanghai and meeting the target production goals to tap into the Chinese market and Asia communities successfully.

Tesla automaker this month said they had been able to deliver more than 367,500 cars last year -up 50% from 2018 deliveries.

By Tesla maintaining its $100 bn valuation and six-month average, it unlocks the 10 years set piece of shares compensation package to Mr. Elon Musk starting with $ 2.6bn.