Tesla’s Brand Value Increases Strongly This Year, Includes Top 20 Global Brands

American electric car maker Tesla is one of the most valued brands in the world. Tesla’s growth this year has been much higher than other global brands. Its brand value has grown significantly to reach $36.27 billion. Tesla has entered the world’s 20 most valuable brands for the first time. Along with this, the wealth of the company’s CEO, Elon Musk, has also increased rapidly.

According to data from TradingPlatforms, Tesla’s brand value has grown by 184 percent this year. This growth is more than all the global brands. Tesla’s business has grown tremendously over the past decade and has carved a niche for itself as an influential global brand. The company was started in 2003 and then its focus was only on electric cars. Tesla is still recognized for its electric cars, but it has also emerged as a major clean energy company. Elon Musk also often makes headlines due to his statements and attention-grabbing tweets. This has also strengthened the identity of Tesla.

Tesla is the only brand to achieve three-digit growth this year. In second place is Sephora, which has a growth of only 37 percent. Tesla’s car sales are competing with other global automobile companies in some countries like the US and China. Tesla plans to start business in the Indian market as well. It has demanded the central government to reduce the import duty. Tesla says that it will be difficult for it to do business in India due to high import duty. However, major Indian automobile companies are opposed to the reduction in import duty. These companies say that this will affect the production of cars in the country.

Musk has been voted “Person of the Year” by Time magazine for this year. Along with Tesla’s huge success, Musk’s rocket company SpaceX also achieved the feat of touching space with a civilian crew this year. Musk also leads brain chip startup Neuralink and infrastructure firm The Boring Company.

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