Tesla’s overtook Toyota as the world’s most valuable carmaker recently as a sign that investors are believing more and more in an energy transition away from fossil fuels. On the day that Tesla exceeded Toyota in market value, Tesla shares rose 3.5% in intraday trading, giving it a market capitalization of US207.2billion (Toyota’s were USD201.9billion). Tesla made 103,000 vehicles in the last quarter, only about 4% of the 2.4 million made by Toyota. So, by 2025, we should be able to see electric vehicle account for 10% of all global passenger vehicles.
Vocabulary and Sample Sentences
Surpass v. – exceed
- Tesla surpassed Toyota in market value last week.
- Investor enthusiasm surpassed the forecast of market analysts.
Doubled v. - two times
- Shares of Tesla doubled in a few months.
- Peter doubled his pay by working overtime every day.
High-profile adj. – well known
- Toyota is making high-profile investments in electric vehicles and self-driving cars.
- Terry Kuo is a high-profile entrepreneur in the tech industry.