Struggle towards Ecology and Thrift

Electric cars, considered more environmentally friendly than cars with internal combustion engines, are now gaining tremendous popularity spanning the globe. Most countries have made commitments to achieve carbon neutrality by 2050-2060, and switching to electric cars is a way to reduce emissions. From 2016 to 2020, the number of electric cars on the world's roads elevated more than 10-fold, reaching 10.2 million. In 2021, the figure was already 12 million.

Right now the share of electric cars in total sales records only 2.7%, however according to Electric Vehicle Outlook 2020, 58% of all cars sold will be electric by 2040. So who will provide this rapid growth? The renowned player in this market is Tesla, which sells an average of 370,000 cars per year, or 42 cars per hour. In Q3 2021, Tesla sales were up 70% - while global car production was down 20%. Tesla's market capitalization soared to $1 trillion in late October amid reports that the oldest car rental company, Hertz, would buy 100,000 cars from it. The deal (if it happens) will be the largest in the history of the electric car market and will bring Tesla $4.2 billion. According to NASDAQ, the company's capitalization was $1.14 trillion this November. In comparison, Meta's current market capitalization is $940 billion.