Still out-performing the auto industry on the stock market Tesla is considered by many - including industry analysts and investors - to be the automaker of the future, with its emphasis on smarter and cleaner mobility. The company's innovation-driven approach and its high expenditure on capital ensures that it stays ahead of its peers. A continuing focus on new product development and product scaling, along with its plan to enter emerging markets, such as India, will help the company sustain its status as a leader in the coming years, says GlobalData, a leading data and analytics company. The company was able to reach its target of delivering half a million vehicles in 2020 and it increased the production capacity for the Model 3 and Model Y to 500,000 at the Fremont factory in California. Over the last year, share prices of Tesla rocketed 951% from US$95.6 in January 8, 2020 to US$880 in January 8, 2021 with the strengthening of renewable energy stocks. As congress confirms Joe Biden's victory, Tesla's stock soared 24% year-to-date (YTD) as of January 8, 2020 as Democrats bat for green energy legislations.