Tesla’s stock value is now worth more than Ford’s. Yesterday, Tesla was worth $45.47bn, while Ford was worth $45.35bn, according to Google Finance. It may seem like a marginal difference. But the fact that Tesla is doing so well is quite telling. It means that a company with a focus on renewable energy can outcompete one that relies on fossil fuels. Tesla is therefore helping us inch closer towards a greener society.
How significant is this?
Electrek claims Tesla’s success doesn’t matter, because Tesla can’t really be considered an automotive company anymore. And this may be true. After all, Tesla CEO Elon Musk dropped ‘Motors’ from its name. The Silicon Valley firm wants to go beyond electric cars and expand into two other trillion-dollar industries – solar power and battery storage.
Tesla recently acquired SolarCity, the largest solar energy services provider in the US. Electrek stresses that it’s unfair to make a strict comparison between Tesla and Ford, since Tesla now does far more than manufacturing vehicles. In fact, while Ford delivers a million cars every quarter, Tesla has yet to deliver 100,000 in a full year.
Reducing the harm caused by transport
There’s been a surge in the popularity of electric cars in Europe. This may be just what we need. Research illustrates that the pollution associated with diesel cars contributes to lung disease, heart attacks, asthma and other respiratory issues. It is significantly more damaging to human health than petrol.
A separate report highlights that carbon emissions linked to diesel cars may be 25-50% higher than previously thought.
Of course, electric cars are only as green as their energy supply. But considering that Tesla is now expanding into the solar energy and battery storage industries, it’s likely that it will look for ways to make electric cars far greener than they currently are.
– Check out more articles from The Canary’s Environment section.
Featured image via Flickr
Do your bit for independent journalism
Did you know that less than 1.5% of our readers contribute financially to The Canary? Imagine what we could do if just a few more people joined our movement to achieve a shared vision of a free and fair society where we nurture people and planet.
We need you to help out, if you can.
When you give a monthly amount to fund our work, you are supporting truly independent journalism. We hold power to account and have weathered many attempts to shut us down and silence the counterpoint to the mainstream.
You can count on us for rigorous journalism and fearless opposition to an increasingly fascist government and right wing mainstream media.
In return you get:
- Advert free reading experience
- Behind the scenes monthly e-newsletter
- 20% discount from our shop