>Tesla's market cap is double of Toyota, VW, Mercedes, BMW, GM, Honda, Ferrari and Volvo all combined!
This phrase gets thrown around a lot with dunning-kreuger confidence so I'd like to add context that it's not unusual for a market disruptor to be worth more than the sum of its legacy competitors - you are on a tech website related to startup incubator you should know this already.
That would be the case if they had disrupted some market, but Tesla has only succeeded in creating a new niche vehicle, and cornering that market to some extent. They are still bit players in the overall car market (and they are losing market dominance even in BEVs, mostly to Chinese companies).
Erm, it's VW due to overtake Tesla for EV sales by the end of this year.
Edit: ouch that statement might have been correct if VW hadn't sold out annual production by May and supply chain problems hamper ramp up. So it's predicted for 2024 VW BEV sales will exceed those of Tesla.
Further I have no doubt that now BMW are making electric cars that look like normal cars inside, are screwed together properly and support CarPlay, they too will overtake Tesla in this segment.
This phrase gets thrown around a lot with dunning-kreuger confidence so I'd like to add context that it's not unusual for a market disruptor to be worth more than the sum of its legacy competitors - you are on a tech website related to startup incubator you should know this already.