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Tesla is one of the world's 20 fast-growing companies Tesla is one of the world's 20 fast-growing companies

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Tesla is one of the world’s 20 fast-growing companies

Credit: @JasemAsh via Tesla Owners Wisconsin/Twitter

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Tesla is one of the world’s 20 fastest-growing companies for 2022, Fortune reported, adding that last year was a record for growth and recovery across its Top Global 500 list. Although many of the companies on the list reported revenue gains, only a few grew by “leaps and bounds.”

20 fastest growing  companies and $1.2 trillion in combined revenue

This growth enabled them to climb higher up the ranks. This year’s list of the 20 fastest-growing companies was measured by how many spots they jumped ahead. These companies advanced by around 126 spots and recorded an average 70.8% revenue growth. Altogether, these 20 companies held a combined $1.2 trillion in revenue and $102 billion in profits.

Although Chinese companies were the fastest growing, Tesla was the fastest growing company in the U.S. Last year, it was 392 out of 500. This year, it jumped up to 242 on the Fortune Global 500 list.

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Tesla’s true competition is energy companies

Out of the top 20 fastest growing companies, Tesla was number 4 on the list following China National Coal Group, CMA CGM, and Ansteel Group. A quick look at the industries shows that automotive as a sector is growing rapidly.

It also reflects what Elon Musk said about Tesla’s real competition being fossil fuel companies such as Aramco. When Elon Musk said that he thinks Tesla has the potential to become the most valuable company ever, he noted that for this to happen Tesla’s market cap would have to exceed Aramco’s.

2021 ARK Prediction: Tesla share price $3,000 by 2025

In 2021, I wrote this article in CleanTechnica. Cathie Wood of ARK Invest said that she believed that Tesla’s share price would reach the $3,000 mark by 2025. When this happens, its market cap would reach as high as $4 trillion in their best-case scenario.

ARK used a Monte Carlo simulation mode with 34 inputs to come to this conclusion. And it included a worst-case scenario which has Tesla’s 2025 price target at $1,500.

Although I am not a stock analyst, it doesn’t take a genius to see how quickly Tesla is growing. And as it grows, it’s pushing the automotive industry to grow with it. Ford, General Motors, Volkswagen, and many others are now producing and marketing EVs.

Once, long ago, it was thought that this would be impossible.

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Disclaimer: Johnna is long Tesla. 

I’d love to hear from you! If you have any comments, concerns, or see a typo, you can email me at johnna@teslarati.com. You can also reach me on Twitter @JohnnaCrider1

 

Elon Musk

Tesla still has two major milestones on track before end of Q2

Tesla still is on track to complete two monumental achievements as Q2 nears its end.

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(Credit: Tesla)

Tesla still has two major milestones it is on track to complete before the end of the second quarter, according to statements made by the automaker earlier this year.

With the launch of the Robotaxi platform in Austin on Sunday, Tesla has already completed perhaps its biggest milestone of 2025.

However, these are not the only things the company hopes to accomplish before we head into the latter half of the year, as there are two major things the company said it is aiming to complete before the third quarter starts next week.

Affordable Models

Tesla said earlier this year, on two separate occasions, that it is still on track to develop, build, and unveil the first affordable models that will be built on both the next-gen platform and also have aspects of the current vehicle platform.

Potential affordable Tesla “Model 2/Model Q” test car spotted anew in Giga Texas

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In the Q4 2024 Earnings Call in January, the company said:

“Preparations are underway across our existing factories for the launch of new products in 2025, including more affordable models.”

The company continued:

“Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025. These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be produced on the same manufacturing lines as our current vehicle line-up.”

Although there are only a few days left, Tesla has yet to confirm that these affordable models are delayed, so we can expect that they’ll be arriving before the quarter ends.

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The company might have been hinting toward one recently at the Fremont Factory, but it is more likely that the vehicle seen was the new Model Y Performance trim:

Tesla’s apparent affordable model zips around Fremont test track

Tesla delivers itself to customers

Back in late May, CEO Elon Musk said that the first Tesla to self-deliver would happen in June:

Tesla just launched its Robotaxi platform on Sunday, so this would be a tremendous step if it can, in fact, make this happen.

The customer would likely be extremely local to Gigafactory Texas. In the future, the company would load the vehicles onto haulers and then drive to customer homes from delivery centers, showrooms, and repair centers.

Teslas will self-deliver to customers, Elon Musk says: here’s when

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Tesla has a few days left to complete both of these tasks, and then it will report delivery figures for the second quarter next week.

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Tesla’s Omead Afshar, known as Elon Musk’s right-hand man, leaves company: reports

Tesla’s Head of North American sales and European ops, Omead Afshar, has reportedly left the company. He was widely-known as Elon Musk’s right-hand man.

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Credit: Elon Musk | X

Tesla’s Omead Afshar, who is widely known as CEO Elon Musk’s right-hand man, has reportedly left the company.

Several outlets are reporting that Afshar either left voluntarily or was potentially terminated on Thursday. His LinkedIn profile has not been updated to reflect this, and still states he presently works at Tesla in the “Office of the CEO.”

Afshar was promoted to Head of North American sales and European operations late last year. We reported on his promotion in October, as he was previously a Project Manager in the Office of the CEO before Musk and co. stepped up his responsibilities.

According to the initial report on Afshar’s departure from Bloomberg, the news has been circulating throughout the company in recent days. His name no longer appears in the company’s internal directory.

It is interesting to think about what could have caused this. Tesla has felt some pressure in Europe with struggling sales figures in some markets. It is the second-best-selling EV maker in the region, with Volkswagen performing slightly better for the year, according to EU-EVs.

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Tesla’s Model Y is the best-selling EV in the region.

While the company has not directly confirmed the news, it appears to be true based on the reports.

Tesla is usually relatively quick to dispel any headlines that go out from mainstream media that are not factual. This has yet to be responded to by any executive, including Musk.

Afshar has been with Tesla for seven years and ten months, first joining in September 2017 as a Project Manager in the Office of the CEO.

He then became a Project Director, before his job title was updated to a Cowboy hat emoji in July 2020, around the time Tesla started moving some things to Texas.

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Forbes is reporting that Afshar was terminated and did not leave voluntarily. This has yet to be confirmed.

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xAI Colossus pollution concerns in Memphis continue

NAACP & SELC push back against xAI Colossus supercomputer. City tests say air is safe — but activists aren’t convinced.

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(Credit: xAI)

Politicians in Memphis continue to debate about the pollution concerns arising from the xAI Colossus supercomputer.

The NAACP and the Southern Environmental Law Center (SELC) have already expressed interest in filing a lawsuit against xAI over concerns related to air pollution stemming from its gas-powered turbines. Environmental groups have now raised concerns about water pollutants.

On Tuesday, Memphis released third-party air quality test results from June 13 and 16. The tests were conducted in downtown Memphis, Whitehaven, and Boxtown, two miles from xAI’s site. The city claimed levels of 10 pollutants tested were safe.

However, SELC–which is representing the NAACP in a potential lawsuit against xAI–criticized the omission of a key pollutant called ozone from the air quality tests. SELC also noted that monitors were placed against buildings, contrary to EPA guidance, stating air sensors should be “at least six feet above ground level, rooftop, or other objects and away from obstructions, vegetation, or emissions sources that would interfere with the measurement.”

Local opposition intensified, with State Representative Justin J. Pearson asserting: “I stand firm that nothing matters if you cannot breathe clean air, drink clean water, and plant in clean soil.”

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On Wednesday, concerns shifted to the Memphis aquifer, as the Tennessee Department of Environment and Conservation held a virtual meeting on xAI’s wastewater facility.

Activist Pamela Moses criticized xAI. “They are not coming here to uplift or invest in our community. They are here to exploit it. This a distressed and a historically neglected area, and instead of bringing opportunity, Colossal is bringing pollution…secrecy and broken promises,” she said.

xAI’s $80 million Grey Water facility aims to mitigate water concerns. The Colossus Water Recycle Facility, a collaboration between the Tennessee Valley Authority and Nucor Steel, aims to alleviate the strain on the aquifer.

“This project is a game changer in terms of it saving about 4.7 billion gallons of water projected, and about 4.7 billion gallons will remain in the aquifer every year,” said Bobby White of the Greater Memphis Chamber.

As xAI’s Memphis supercomputer continues to be the center of debates, the tension between economic benefits and environmental justice remains unresolved. With ongoing scrutiny and potential legal action, xAI’s efforts to address pollution and water concerns will shape its role in Memphis’ future.

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