Tesla shares rose 6% on Friday as the expansion presents a new source of revenue (the companies did not say Thursday how much Ford owners will pay to use Tesla’s chargers). Key BackgroundWhen Tesla first went public in 2010, its market capitalization was about $2 billion, compared to Ford’s roughly $35 billion valuation at the time. Now, Tesla is the ninth-biggest company in the world with a $615 billion market cap, dwarfing Ford’s $49 billion valuation. Surprising FactTesla added $45 billion in market value Friday, nearly matching Ford’s total market cap. Further ReadingFord’s EV Customers Getting Access To Tesla Charging Network In 2024 (Forbes)Follow me on Twitter.

Source: Forbes May 26, 2023 17:10 UTC