Tesla has become the most valuable US car maker of all time after the company closed Monday with a market value of $81.39billion.
The company surpassed Ford Motor's peak of $80.81billion that was set in 1999.
On Tuesday, Tesla shares continued to climb to nearly 4 per cent to $469.36.
But Tesla's market value still trails Toyota Motor Corp and Volkswagen AG. Toyota Motor Corp is valued at $227.90billion while Volkswagen sat at $98.65billion by Monday's close.
Tesla's short sellers have lost a stunning $8.4billion over the last seven months as the electronic car manufacturer's stock hit a record high and beat investor expectations.
Tesla announced on Friday that they delivered 112,000 vehicles in the fourth quarter, beating the expectations of 104,960 vehicles, according to IBES data from Refinitiv.
It delivered approximately 367,500 vehicles during all of 2019, just meeting the low end of its target to deliver 360,000 to 400,000 vehicles.
Tesla said it demonstrated a production run-rate capability of more than 3,000 units per week at the Shanghai factory.
However, short holders still expect Tesla to be eventually overtaken by more established car companies such as General Motors, Ford and BMW entering the electric car industry.
'We think questions remain about first half 2020 results and gross margin sustainability; we point out that Tesla is already lowering prices in China and faces a flood of (electric vehicle) competition in the US, with at least 25 new models debuting this year,' CFRA analyst Garrett Nelson wrote in a client note on Friday.
The gains in Tesla's shares have elevated its market capitalization to more than $80billion, compared to GM's market value of $52billion and Ford's market capitalization of $37billion, according to Reuters.
Wow quality RWD luxury carmaker Tesla EV market capital cap $81 billion is worth almost as much as GM/Ford's combined $87 billion market cap.
Ford's Focus EV has been a total disaster in places like Europe with just 61 units sold in Europe in 2016, and just 70 sold there in 2015 the electric plug got pulled out on the German Cologne Focus EV production line, and Bolt EV sale have not taken off with just 1,100 sales a month in the last US sales quarter.
Chevy Bolt EV is supposed to be the future face of General Motors what sort of future is that 1,100 sales a month, l wonder if GM will ever do the right thing for once and offer a quality RWD Chevy EV that completes with head on with the Tesla Model 3, sadly l dont hold out much hope sad to say.
It seems like the lights are on and nobody is in at GM's RenCen