Tesla soon to be the world's most valuable carmaker

Tesla could soon surpass Toyota to become the world's most valuable carmaker. The EV maker's market cap rose to US$ 190 billion, whereas Toyota's market value is around US$ 216 billion.

Earlier this week, Tesla Inc's stock price rose by 8.97% to US$ 1,025.05 after Elon Musk, co-founder and CEO, shared his plan to start production of the all-electric Semi Truck. The truck's batteries and powertrain will be made at the company's Nevada battery factory.

The Tesla Semi was unveiled in November 2017. It comes in two configurations with a maximum range of either 480 km or 800 km with a full load.

The truck is powered by 4 independent motors that are located between the rear axles of the truck. Tesla claims a 5 second 0-60 mph time without any load and 20 seconds when fully loaded at over 36,000 kg. The truck is also claimed to maintain a speed of 105 km/h on a 5% grade under full load.

Elon Musk's statement comes just days after Nikola Corp. announced plans to open bookings for the Badger electric truck.

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