The market capitalization of U.S.-based electric vehicle (EV) giant Tesla exceeded $1 trillion on Friday.
Following Donald Trump‘s election victory in the U.S., the price of a Tesla share jumped by 13.5% to $285 on Wednesday.
Trump is expected to impose additional tariffs on imported goods, including electric vehicles, particularly those from China, which is anticipated to strengthen Tesla’s dominance in the U.S. EV market.
Between Wednesday and Friday, Tesla’s share price posted a further increase of 14.6%, closing at $327 as of 1930 GMT.
Since the beginning of the month, Tesla shares have gained approximately 31%, bringing the company’s market cap to $1.04 trillion.
Musk, one of Trump’s biggest supporters, donated more than $130 million to his election campaign.