Elon Musk’s Trump bet has paid off so well that Tesla is now worth more than most of the rest of the car industry combined

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On Friday, Tesla reclaimed its place in the elite club of companies worth more than $1 trillion after adding a full third in market capitalization since Election Day less than a week ago.

Last week’s gains also reflect market optimism that Trump will deliver on his planned cut to the corporate tax rate from 21% down to 15% for U.S.manufacturers like Tesla.

Relative to its peers, Tesla is now worth more than the next 15 largest carmakers combined—from Toyota and General Motors all the way down to Jeep’s parent company Stellantis and Hyundai.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United StatesChinaJapanMexico

Topics: Tesla Elon Musk Donald Trump U.S. Presidential Election Autos

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 12:50:57 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 21 words

Reading Time: 1 minutes read

Sentences: 30 lines

Sentence Length: 1 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 23515437

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