Everyone welcome back to elon musk evolution where we bring you the most recent news about elon musk and his multi billion dollar companies. But before we begin make sure you subscribe to our channel and click the bell icon, so you dont miss any of our amazing videos and lets begin. Tesla has quickly become the global automotive sectors benchmark legacy. Automakers such as general motors ford, volkswagen and mercedes benz place themselves in relation to tesla rivian automotive inc is an example of an upstart, lucid group. Ink fisker wants to be compared to elon musks ev juggernaut. The electric vehicle manufacturer has transformed the car into a living room on four wheels using the most recent technological innovations. Apple can also claim to have a technology ecosystem in the form of phones and computer equipment. The t brand has its own niche among consumers. Owners of tesla vehicles are members of an exclusive club fanzindor, the brand, which currently sells four models: the model s and model 3 sedans, as well as the model x and model y suvs. However, teslas fame extends far beyond the automotive industry. Companies that want to be innovative and disruptive are watching teslas actions in 2023, the futuristic cyber truck tesla semi and new roadster will go into production its difficult to categorize tesla, especially since musk the architect of this extraordinary success story prefers to remain private. Those who consider tesla to be merely a vehicle manufacturer are frequently reminded that the companys market capitalization, which recently surpassed one trillion dollar, tells a different story.
Tesla sells far fewer vehicles per year than toyota, general motors volkswagen or ford. In 2021, the austin company sold fewer than 1 million vehicles compared to millions for legacy automakers. Those who classify tesla as a technology company are frequently reminded that tesla is essentially a way of life in its own right. It is a choice. They are told to protect the planet and save it from pollution. From these perspectives, teslas true rival is difficult to identify, especially since musk stares down his competitors, but rarely speaks about them. The billionaires technological efforts are frequently associated with apple. He mocks its products, however, and wonders what the iphone manufacturer invented that was revolutionary as tesla shareholders and analysts, wonder whether musk will devote much of his energy to developing tesla while acquiring twitter for 44 billion must just send them a message that should reassure them. Aside from the fact that he hopes not to have to use his tesla shares as collateral to finance the takeover, the serial entrepreneur has just named the company that he likely regards as the final impediment to teslas initial mission. The company is saudi aramco, the worlds largest oil company, according to the billionaire tesla, has the potential to be the most valuable company ever you know the future will be good for earth when teslas market cap making sustainable energy products exceeds that of aramco producing fossil fuels. Musk wrote on twitter on may 25. He was responding to a message in which he warned investors about the possibility of a recession which would affect the stock price.
As of may 26, saudi aramco had a market capitalization of 2.387 trillion dollar, making it the most valuable company in the world. The oil behemoth is capitalizing on the rise in crude oil. Prices caused by russias invasion of ukraine. Apple comes in second place with a market cap of 2.327 trillion dollar, followed by microsoft. With a market cap of 1.998 trillion dollar alphabet, google is valued at 1.426 trillion dollar, followed by amazon at 1.13. Trillion dollar tesla is currently ranked. Sixth, with a market capitalization of 733.21 billion tesla had a market capitalization of 1.09 9 trillion dollar as of december thirty, one that valuation has dropped by three hundred sixty six billion dollars. Since then, teslas stock has dropped by one third since january. This setback is undoubtedly related to supply chain disruptions and rising raw material prices, but it is also related to musks potential distraction from twitter. Musk also owns the rocket company spacex and is involved with the medical device manufacturer, neurolink and the infrastructure provider born company investors are curious about how he will divide his time between all of these companies once he completes his acquisition of twitter. Aside from these concerns, teslas fundamentals are strong. Its vehicle order books are full. Recent vehicle price increases have been accepted by customers and tesla promises full vehicle autonomy by the end of the year. The company now has four factories in front california, austin, shanghai and berlin, allowing it to significantly increase production despite lower sales volumes than its main competitors.
Musks company achieved wide margins and the best profitability in the automotive sector in the first quarter. The point of all of this was, and continues to be, accelerating the advent of sustainable energy, so that we can imagine far into the future and life is still good. Musk wrote in his master plan for tesla part due in july 2016., its not some silly hippie thing it matters for everyone. Elon musk has long despised the fossil fuel industry back in 2018. His stated mission for tesla inc is to hasten the demise of that industry and he repeatedly blamed the unrelenting and enormous power of oil interest for thwarting his efforts. It was reported back in 2018 that musk is courting billions of dollars in oil dollars in his bid to take tesla private musk revealed at least one potential partner after a week of remaining tight lipped about who hes been trying to enlist to help buy out teslas Publicly traded shares saudi arabia its difficult to imagine a more apt symbol of big oil and its money than a sovereign wealth fund established by the worlds largest oil producer. Musk stated in a blog post that he has been in talks with saudi arabia for nearly two years. The appearance of a high stakes battle between tesla and the fossil fuel industry has always been critical to teslas brand strategy. Musk has repeatedly argued that in the age of global warming, youre either part of the solution or part of the problem, with civilization on the line.
Every time he introduces a new tesla product, whether its a home battery or a high end sports car. He makes a point of explaining how it will aid the global transition to sustainable energy. The fact that oil money was arrayed against him made purchasing his products seemed like picking a side in an epochal conflict. However, it is clear that the battle lines cannot be drawn. So neatly any longer: some of the very groups musk has condemned as threats to the environment want to be seen as part of the solution. The fossil fuel industry, like the media, must despise us has never been. The monolith must portrays it to be. Yes, oil companies have lobbied to protect their business and have pushed climate change politics away from strict regulation. However, big oil has also provided some of the most significant innovations and sources of funding for climate solutions. Thats. Why musks blood post reveals that saudi arabias sovereign wealth fund first approached him in early 2017., the saudi public investment fund or pip recently acquired nearly five percent of the company and is interested in taking it private, the saudis arent the only ones putting oil money to Work for tesla at the end of 2017, the norwegian sovereign wealth fund, which was created with the countrys oil wealth, owned 0.48 percent of tesla stock. It stands to reason that some of that money would go toward electric vehicles which are expected to grow from 1.1 million globally last year to 30 million by 30 30.
According to bloomer new energy finance, a larger investment to help tesla go private would give the worlds largest oil producers some operational control over the worlds largest electric car maker thats. The kind of shadowy influence teslas ceo might have framed as a threat in the past. However, with traditional automakers researching battery technology to compete with tesla and oil states pouring money into musk division, it appears that a massive electric vehicle conspiracy is in the works and that is for todays video dont forget to subscribe to our youtube channel.