Elon Musk’s Tesla Joins Fortune 500 As One of the Top US Companies
Tesla witnessed a 73 percent increase in its sales, most of it attributed to the sale of electric cars.
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In a new high for the Mars-loving, AI-fearing, real life Iron Man Elon Musk, Tesla made it to the Fortune 500, an annual list of largest five hundred US industrial corporations. The index of measurement is the gross income of the companies.
The company, primarily dealing with solar powered technology and making electric cars, reached the spot of 383 after grossing a revenue of $7 billion in 2016.
Tesla witnessed a 73 percent increase in its sales from the prior year, and most of it is attributed to the sale of electric cars.
The sales are expected to grow. Later in 2017, Tesla is expected to start production of its first mass-market car, Model 3.
The company’s stock price has grown enough to make it one of US’ largest companies. It became the most valuable US automaker, after overtaking Ford Motor and General Motors, earlier this year, points out CNN Money.
Other than solar energy and electric cars, Musk has kept his hands full with research into interplanetary travel and melding human brains with computer.
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