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Added on the 25/04/2022 21:35:48 - Copyright : Euronews EN
Elon Musk attended the launch of his firm's new Shanghai factory and started selling the first China-made Model 3 sedans.
Susan Walsh/AP; Erin Scott/Reuters There's no love lost between Elon Musk and Mark Zuckerberg. The billionaire tech CEOs — who helm Tesla and SpaceX, and Facebook, respectively — have been feuding since at least 2016, when a SpaceX rocket explosion destroyed a Facebook satellite. Since then, they've butted heads over everything from artificial intelligence to Facebook's data-collection practices. Most recently, Musk tied Facebook to the violent insurrection in Washington, DC, describing it as a "domino effect." Visit Business Insider's homepage for more stories.
On Monday, Tesla stock climbed as much as 5%. Business Insider reports that Tesla's market capitalization is north of $700 billion. Elon Musk's company exceeded its production target of 500,000 vehicles last year. The company has fallen just short of 500,000 deliveries. "So proud of the Tesla team for achieving this major milestone!" Musk tweeted about the news. Tesla's stock price soared by more than 740% in 2020.
Last year Tesla CEO Elon Musk predicted autonomous driving would boost his company's market capitalization to $500 billion. On Monday, Tesla's market cap soared as high as $498 billion even though Tesla is still refining its self-driving software. Business Insider reports that it has only released a beta version to a limited number of customers. Musk made the claim during an investor call in May 2019, when Tesla's market cap was less than $45 billion, CNBC reported. The Tesla chief projected in 2015 that his company's market cap could balloon to $700 billion by 2025.
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