Say what you will about Tesla and CEO Elon Musk, but the accomplishments speak for themselves. Tesla has managed to carve its own niche in the industry, despite other automakers possessing nearly identical technology, and branded itself as a “gotta have it” product amid tapering vehicle ownership in the U.S.
Tesla’s latest accomplishment saw it dethrone Ford as the second most valuable car company in the U.S. However, it still has yet to topple General Motors. Reuters reports GM remains the most valuable car company in America. GM’s market capitalization hovers at $51.1 billion, while Tesla’s sits at $49.1 billion.
Things are expected to heat up, though. Musk has hinted production for the automaker’s Model 3 will begin this summer with a starting price of $35,000 before federal tax credits. That price point undercuts the 2017 Chevrolet Bolt EV, but it remains to be seen how equipment and value stack up.
As for range, Musk also hinted the Model 3 may outdo the Bolt’s 238 miles of electric driving, potentially with a larger battery option. Previous estimates had the Model 3 arriving with a 215-mile range.