Thanks to the surge in its share price over the past week, Tesla's market capitalisation has "officially" surpassed that of Toyota, Volkswagen and Honda combined.

    According to foreign media reports, Tesla's market value has "officially" surpassed that of Toyota, Volkswagen and Honda combined, thanks to the sharp rise in its stock price in the past week.

    Toyota, Volkswagen and Honda are the world's second, third and fourth largest carmakers by market capitalisation respectively.Yet despite being among the world's largest car companies, their combined valuations lag behind Those of Tesla, whose share price has risen nearly $400 in just a week.

    The company's shares closed at $1,371.00 local time on July 6.Tesla's shares were trading at $1,732.61 at press time.Tesla's current market capitalisation is $324.93 billion, compared with Toyota, Volkswagen and Honda's combined market capitalisation of $302.88 billion.

    Tesla's market value has surged more than 220 per cent so far this year, delivering exponential returns to investors.This is particularly impressive given the closure of the company's automotive production facilities in Fremont, Calif., and Shanghai, China, due to the COVID-19 pandemic.

    The surge in Tesla's share price is largely due to improvements in the company's technology and battery performance.It's worth noting that the company has successfully surpassed Wall Street estimates in productivity and delivery Numbers.

    Tesla's market value far exceeds its role as a carmaker.The company is involved in the production and storage of sustainable energy, and is growing rapidly as a company focused on the life of the planet and freeing people from deadly fossil fuels.

    Tesla has been a leader in the worldwide transformation of the vast automotive industry into a sustainable, electric-based, fun and environmentally friendly industry.

    After the 2017 Launch of the Model 3, Tesla was officially recognized as a mass-market car company offering high-end, sustainable vehicles that would be affordable for most families.

    Now that tesla has two cars priced for most households, it has managed to reach beyond the wealthy.Tesla CEO Elon Musk's "master plan" details this vision, and it's all come true.

    Tesla's future is also worth looking forward to.Oppenheimer analyst Colin Lassi said on CNBC's "Squawk Box" recently that the evidence suggests Tesla will grow 50 to 70 percent in the next four to five years.Thanks to advances in automotive technology and batteries, Tesla has a significant advantage in the field of electric transportation, and he believes tesla's market value will continue to grow by 2025.

    Tesla will detail its second quarter 2020 results on its Earnings call on July 22 local time.