Before they used to be Toyota, VW, BMW. They are no longer the automaker giants. It is now TESLA whose market cap topped trillion
The reasons for this bull run were:
1. Record profits;
2. Tesla topped ICE sales in Europe
3. Hertz coming out of bankruptcy buying 100,000 TESLA units
This development reflect the growing awareness of decarbonizing the planet earth (to stop global warming and flooding of coastal areas) and severe climate change.
But Toyota is resisting this wave of change. It favors fuel cells, and does not favor total disregard of ICE (Internal Combustion Engine)
The fortunes of TESLA reflect the gtowing consciousness that we should stop the carbon emitters like ICE, coal power plants. (We havent figured out how to dispose the dead batteries and sourcing of rare earth metals for the batteries. The mining of these minerals will mean more destruction of forests and even water resources)
