Tesla is worth less than Ford

For the first time this year, the value of Ford has overtaken that of Tesla.

At the time of publication, Tesla’s market cap had fallen to $42.65 billion while Ford’s value was slightly higher at $43.15 billion.

Tesla’s market value overtook Ford’s in 2017, prior to the rollout of its Model 3 electric vehicle.

The carmaker recently recalled over 123,000 Model S vehicles globally, however, due to a problem with a power-steering component.

Ford has also experienced its share of recalls, and in South Africa the Kuga vehicle has earned a reputation of catching alight due to faults.

Now read: Elon Musk jokes of Tesla bankruptcy

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Tesla is worth less than Ford