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
We need your help ...
The coronavirus pandemic is changing our world, fast. And we will do all we can to keep bringing you news and analysis throughout. But we are worried about maintaining enough income to pay our staff and minimal overheads.
Now, more than ever, we need a vibrant, independent media that holds the government to account and calls it out when it puts vested economic interests above human lives. We need a media that shows solidarity with the people most affected by the crisis – and one that can help to build a world based on collaboration and compassion.
We have been fighting against an establishment that is trying to shut us down. And like most independent media, we don’t have the deep pockets of investors to call on to bail us out.
Can you help by chipping in a few pounds each month?