Last year has been largely successful for Tesla with numerous noteworthy announcements. Indeed, the U.S. car manufacturer beat Wall Street estimates in Q4 by completing 112,000 deliveries. And yesterday, the firm became the first $100 billion publicly listed U.S. car manufacturer in extended trading.
Alongside this, the same day, Tesla also reached an agreement with Michigan state to allow the manufacturer to deliver vehicles to its customers in the state.
Tesla's crossing of the $100 billion mark comes within a month of its stock crossing $420—a value at which Musk tweeted that he was considering privatizing the company.
Am considering taking Tesla private at $420. Funding secured.— Elon Musk (@elonmusk) August 7, 2018
The electric-car maker's market value inches Musk closer to securing the first $346 million tranche of options in a record-breaking pay package. But the $100 billion valuation needs to stay for both a one-month and six-month average in order to trigger the vesting of the first of 12 tranches of options granted to Musk to buy Tesla stock, reported Reuters.
Already, Tesla was valued more than both Ford Motor Co. and General Motors Co., combined. The car manufacturer's rise has been aided by production increases and improved deliveries. Just last month, Tesla delivered its first Chinese manufactured Model 3 cars at the company's Shanghai gigafactory. Moreover, Tesla's stock has more than doubled in the last three months. Some analysts have even claimed that the rise will continue and the company's stock will trade in the $640-to-$960 range early next year.