While the two elections involved ordinary voters, Tesla’s ranking last April as the most valuable car company on the planet was, remarkably, driven by hard-headed investors and analysts.
In 2016, Tesla sold just over 76,000 cars globally, while General Motors sold 9.96 million. But that didn’t stop the financial markets valuing this automotive minnow at $51.54 billion (£38.03bn) last spring. That was more than one billion dollars above the market value of second-placed GM.
Such is the rate of Tesla’s cash burn that in late 2017 Bloomberg Intelligence’s market analysts estimated Tesla would run out of money completely by August 2018 if nothing changed.
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