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Elon Musk-owned tesla, risen to top of the Fortune 500 list | International Business News – Mrit News

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San Francisco- Following the blockbuster 2021 results, Elon Musk-owned Tesla has climbed up the Fortune 500 list, with the electric vehicle maker jumping an impressive 35 spots to claim the number 65 spot in this year’s rankings. Brian O’Keefe, Senior Executive Editor at Fortune, stated that the rankings this year could be seen as the return of the energy sector, reports Teslarati.

“Tesla made a huge jump again this year, 35 spots from number 100 up to number 65. Tesla’s profits shot up to more than 600 percent last year to $5.5 billion, and Tesla, of course, represents a revolution in the auto industry,” O’Keefe was quoted as saying. The company has been on a tear over the past years, steadily climbing up the Fortune 500 list as it established itself as the undisputed leader in electric vehicles.

As per the report, the electric car company continued its meteoric rise up the rankings, climbing 35 spots over last year. The company had a blockbuster 2021, bringing in $53.8 billion in revenue, up 70 percent from 2020, and expanding significantly into key European and Chinese markets. ALSO READ: Cabinet clears sale of govt’s 29.58% stake in Hindustan Zinc valued at Rs 38,000 crore

Tesla entered the Fortune 500 for the first time in 2017, with the company becoming number 383 on the list. The company’s rise was evident the year later, with the company climbing to number 260 in 2018 and number 144 in 2019. Tesla took the number 124 spot in 2020, and just a year later, the company took the number 100 spot.




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