Tesla become World's Most Valuable Car Manufacturing Company | Tesla Share Price

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It's time to move the Tesla Semi-Commercial Truck to "Volume Production," Chief Executive Elon Musk told his staff. Shares of Tesla Inc. (TSLA.O) jumped above $ 1000 on Wednesday. With this, Tesla has become the most valuable vehicle manufacturer in the world.

In an email seen by Reuters on Wednesday, Musk did not mention a period to increase CM’s production. Asked on Twitter, whether the semi-truck production email leaked report, was accurate, Musk tweeted "Yes" on Wednesday.

Shares of Tesla rose nearly 6% after news of Musk's email on Wednesday, making Silicon Valley the world's most important automaker behind Japan's Toyota Motor Corp (7203.T). The turnover of Tesla's shares raise the musk for a second payment from a stock compensation scheme linked to the company's market capitalization.

Wedbush's bullish call boosted the stock. The company raised the automaker's target price to $10,000 and told Tesla it would "get more room to run.”

Investors predict that Musk will unveil new "million-mile" battery technology that will provide longer life, lower costs, and better range for future Tesla vehicles.

Musk wrote, “Batteries and powertrains will be produced in Giga Nevada”. He wrote that Most of the other work will probably take place in other states, without saying where.

Indicating that Texas could be a candidate, Tesla is drawing attention to other U.S. states to build new factories, Musk said. Oklahoma and other states are campaigning for investment.

When Musk unveiled a futuristic, battery-powered semi model in 2017, he said the class truck would go into production by 2019. He recently said that the volume will go into production by 2021.

Musk's Tuesday message is accompanied by a rise in the share price of rival clean truck maker Nikola Corp. NKLA.O.

Nikola, an electric and fuel cell truck startup, began trading on NASDAQ earlier this month when it merged with special-purpose acquisition company VectolQ.

Shares in Nikola doubled in the past week as the company's CEO used Twitter and interviews to promote Tesla's plans to launch an electric pickup truck to its upcoming Cybertruck.

Nikola and CNH Industrial’s IVECO commercial truck operation last year formed a joint venture to build a battery-electric and fuel cell truck line called the Nicola Tre. IVECO said orders for the electric version of the tired truck next year are strong.

Nikola has appointed former Tesla CEO Mark Duchesne and former Caterpillar (CAT.N) executive Pablo Koziner as head of the hydrogen fueling and battery recharging business.