For some time now, the ranking of the world’s leading automobile manufacturers has been changing. Or to be more specific, Volkswagen, Toyota and the Renault-Nissan-Mitsubishi Alliance are still on top if we count the number of vehicles sold. If instead we’re looking at market capitalization, Tesla takes the lead. Today the company is worth around 675 billion euro, more than double the value of the three sales leaders combined. In fifth place, with a capitalization of 75 billion euro, we have another electric vehicle (EV) producer: NIO, a Chinese company combined worth more than Daimler, General Motors (GM) and BMW. And NIO isn’t alone; several other EV companies have seen stratospheric capitalizations in recent months, the likes of Rivian (electric pickups, valued at 25 billion euro with a private placement), Nikola (electric trucks, 8 billion euro in the stock market) and Arrival (electric buses, 14 billion euro).
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