Energy
Tesla becomes world’s most valuable “automaker”, but the story goes well beyond cars
Tesla has officially become the world’s most valuable automaker, surpassing Toyota Motor Corporation on Wednesday morning. However, Tesla is much more than an automaker, and its success has a lot to do with its other sustainable projects.
Tesla now holds an over $185 billion market capitalization, meaning the total value of all of the automaker’s shares of stock is worth more than any other carmaker on Earth. Toyota now sits in second place, with its $178 billion market cap.
Interestingly enough, Tesla’s solidification as the most valuable carmaker is eye-opening simply because the company does so much more than build sustainable vehicles. Tesla has become a leader in energy storage and solar solutions, something that no other carmaker in the world can say. While car companies continue to chase after Tesla’s industry-leading efficiency and technology, its focus remains on accelerating sustainability as a whole, and not just through vehicle manufacturing.
https://twitter.com/ElonsWorld/status/1270712021357658114
At the time of writing, Tesla shares were trading a few dollars above the $1,000 per share mark. At that price, the market cap stands at $185.10 billion.
Tesla overtook German automaker Volkswagen for the second-most valuable carmaker label in February. Volkswagen currently sits in third with an $85.53 billion market cap.
TSLA stock has continued to rise amid rising production rates and sales figures in China, the world’s largest automotive market. However, developments in battery technology and rumors of an upcoming million-mile capable battery pack have helped the electric automaker’s stock price soar in the past months.
On the energy front, Tesla has ramped its Solar Roof to a 4 MW per week production rate. The company indicated in the Q1 2020 Update Letter that this is enough for 1,000 homes. The implementation of rental and subscription services has also helped the company’s solar initiatives be affordable for more people.
On the morning of June 10, TSLA stock officially crossed the $1,000 per share threshold for the first time after rumors of a production push of the company’s Semi circulated. The talks, which were confirmed by company CEO Elon Musk, indicated production volumes would no longer be limited. The Semi was geared for initial deliveries in 2021, but Musk has decided to ramp up the manufacturing of the company’s commercial vehicle.
Meanwhile, Model 3 continues to dominate in nearly every country it is available. The car was the best selling electric vehicle in China in May, selling over 11,000 units during the month. In the United States, the Model 3 was the most popular vehicle in California through the first quarter of 2020.
After Tesla managed to reopen its vehicle production facility in Fremont, California, following the COVID-19 pandemic, the company has ramped up production of the Model Y, which has become the company’s main focus for the coming months.
Tesla is also looking to increase its production rate by opening up a series of new manufacturing facilities across the globe. Not only will the company open a new U.S.-based factory in the Central United States. Tulsa, Oklahoma, and Austin, Texas, are the two finalists for the new factory, with a decision expected to be made within the coming months.
Additionally, the company’s foreign presence is being ramped up. Not only is Giga Shanghai’s Model Y facility, known as Phase 2A, coming along in a timely fashion, but Tesla’s construction crews also recently broke ground on Giga Berlin in Germany. Tesla plans to manufacture half-a-million vehicles a year in Germany, and rumors have even suggested another European production plant will be built somewhere in the United Kingdom.
Tesla is riding a wave of momentum that has taken it from a small, likely unsuccessful car startup that was plagued with issues in 2008, to the most valuable automaker in the world in 2020. Not only has Tesla established itself as the leader in American EV manufacturing, but the company has launched itself into an international powerhouse that has combined electric mobility with sustainable energy solutions to become an international sensation.
Energy
Tesla meets Giga New York’s Buffalo job target amid political pressures
Giga New York reported more than 3,460 statewide jobs at the end of 2025, meeting the benchmark tied to its dollar-a-year lease.
Tesla has surpassed its job commitments at Giga New York in Buffalo, easing pressure from lawmakers who threatened the company with fines, subsidy clawbacks, and dealership license revocations last year.
The company reported more than 3,460 statewide jobs at the end of 2025, meeting the benchmark tied to its dollar-a-year lease at the state-built facility.
As per an employment report reviewed by local media, Tesla employed 2,399 full-time workers at Gigafactory New York and 1,060 additional employees across the state at the end of 2025. Part-time roles pushed the total headcount of Tesla’s New York staff above the 3,460-job target.
The gains stemmed in part from a new Long Island service center, a Buffalo warehouse, and additional showrooms in White Plains and Staten Island. Tesla also said it has invested $350 million in supercomputing infrastructure at the site and has begun manufacturing solar panels.
Empire State Development CEO Hope Knight said the agency was “very happy” with Giga New York’s progress, as noted in a WXXI report. The current lease runs through 2029, and negotiations over updated terms have included potential adjustments to job requirements and future rent payments.
Some lawmakers remain skeptical, however. Assemblymember Pat Burke questioned whether the reported job figures have been fully verified. State Sen. Patricia Fahy has also continued to sponsor legislation that would revoke Tesla’s company-owned dealership licenses in New York. John Kaehny of Reinvent Albany has argued that the project has not delivered the manufacturing impact originally promised as well.
Knight, for her part, maintained that Empire State Development has been making the best of a difficult situation.
“(Empire State Development) has tried to make the best of a very difficult situation. There hasn’t been another use that has come forward that would replace this one, and so to the extent that we’re in this place, the fact that 2,000 families at (Giga New York) are being supported through the activity of this employer. It’s the best that we can have happen,” the CEO noted.
Energy
Tesla launches Cybertruck vehicle-to-grid program in Texas
The initiative was announced by the official Tesla Energy account on social media platform X.
Tesla has launched a vehicle-to-grid (V2G) program in Texas, allowing eligible Cybertruck owners to send energy back to the grid during high-demand events and receive compensation on their utility bills.
The initiative, dubbed Powershare Grid Support, was announced by the official Tesla Energy account on social media platform X.
Texas’ Cybertruck V2G program
In its post on X, Tesla Energy confirmed that vehicle-to-grid functionality is “coming soon,” starting with select Texas markets. Under the new Powershare Grid Support program, owners of the Cybertruck equipped with Powershare home backup hardware can opt in through the Tesla app and participate in short-notice grid stress events.
During these events, the Cybertruck automatically discharges excess energy back to the grid, supporting local utilities such as CenterPoint Energy and Oncor. In return, participants receive compensation in the form of bill credits. Tesla noted that the program is currently invitation-only as part of an early adopter rollout.
The launch builds on the Cybertruck’s existing Powershare capability, which allows the vehicle to provide up to 11.5 kW of power for home backup. Tesla added that the program is expected to expand to California next, with eligibility tied to utilities such as PG&E, SCE, and SDG&E.
Powershare Grid Support
To participate in Texas, Cybertruck owners must live in areas served by CenterPoint Energy or Oncor, have Powershare equipment installed, enroll in the Tesla Electric Drive plan, and opt in through the Tesla app. Once enrolled, vehicles would be able to contribute power during high-demand events, helping stabilize the grid.
Tesla noted that events may occur with little notice, so participants are encouraged to keep their Cybertrucks plugged in when at home and to manage their discharge limits based on personal needs. Compensation varies depending on the electricity plan, similar to how Powerwall owners in some regions have earned substantial credits by participating in Virtual Power Plant (VPP) programs.
Tesla is updating Cybertruck owners on its timeline of a massive feature that has yet to ship: Powershare with Powerwall.
Powershare is a bidirectional charging feature exclusive to Cybertruck, which allows the vehicle’s battery to act as a portable power source for homes, appliances, tools, other EVs, and more. It was announced in late 2023 as part of Tesla’s push into vehicle-to-everything energy sharing, and acting as a giant portable charger is the main advantage, as it can provide backup power during outages.
Cybertruck’s Powershare system supports both vehicle-to-load (V2L) and vehicle-to-home (V2H), making it flexible and well-rounded for a variety of applications.
However, even though the feature was promised with Cybertruck, it has yet to be shipped to vehicles. Tesla communicated with owners through email recently regarding Powershare with Powerwall, which essentially has the pickup act as an extended battery.
Powerwall discharge would be prioritized before tapping into the truck’s larger pack.
However, Tesla is still working on getting the feature out to owners, an email said:
“We’re writing to let you know that the Powershare with Powerwall feature is still in development and is now scheduled for release in mid-2026.
This new release date gives us additional time to design and test this feature, ensuring its ability to communicate and optimize energy sharing between your vehicle and many configurations and generations of Powerwall. We are also using this time to develop additional Powershare features that will help us continue to accelerate the world’s transition to sustainable energy.”
Owners have expressed some real disappointment in Tesla’s continuous delays in releasing the feature, as it was expected to be released by late 2024, but now has been pushed back several times to mid-2026, according to the email.
Foundation Series Cybertruck buyers paid extra, expecting the feature to be rolled out with their vehicle upon pickup.
Cybertruck’s Lead Engineer, Wes Morrill, even commented on the holdup:
As a Cybertruck owner who also has Powerwall, I empathize with the disappointed comments.
To their credit, the team has delivered powershare functionality to Cybertruck customers who otherwise have no backup with development of the powershare gateway. As well as those with solar…
— Wes (@wmorrill3) December 12, 2025
He said that “it turned out to be much harder than anticipated to make powershare work seamlessly with existing Powerwalls through existing wall connectors. Two grid-forming devices need to negotiate who will form and who will follow, depending on the state of charge of each, and they need to do this without a network and through multiple generations of hardware, and test and validate this process through rigorous certifications to ensure grid safety.”
It’s nice to see the transparency, but it is justified for some Cybertruck owners to feel like they’ve been bait-and-switched.
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