Tesla is one of the worlds 20 fastest-growing companies for 2022, Fortune reported, adding that last year was a record for growth and recovery across its Top Global 500 list. Although many of the companies on the list reported revenue gains, only a few grew by leaps and bounds.

This growth enabled them to climb higher up the ranks. This years list of the 20 fastest-growing companies was measured by how many spots they jumped ahead. These companies advanced by around 126 spots and recorded an average 70.8% revenue growth. Altogether, these 20 companies held a combined $1.2 trillion in revenue and $102 billion in profits.

Although Chinese companies were the fastest growing, Tesla was the fastest growing company in the U.S. Last year, it was 392 out of 500. This year, it jumped up to 242 on the Fortune Global 500 list.

Out of the top 20 fastest growing companies, Tesla was number 4 on the list following China National Coal Group, CMA CGM, and Ansteel Group. A quick look at the industries shows that automotive as a sector is growing rapidly.

It also reflects what Elon Musk said about Teslas real competition being fossil fuel companies such as Aramco. When Elon Musk said that he thinks Tesla has the potential to become the most valuable company ever, he noted that for this to happen Teslas market cap would have to exceed Aramcos.

In 2021, I wrote this article in CleanTechnica. Cathie Wood of ARK Invest said that she believed that Teslas share price would reach the $3,000 mark by 2025. When this happens, its market cap would reach as high as $4 trillion in their best-case scenario.

ARK used a Monte Carlo simulation mode with 34 inputs to come to this conclusion. And it included a worst-case scenario which has Teslas 2025 price target at $1,500.

Although I am not a stock analyst, it doesnt take a genius to see how quickly Tesla is growing. And as it grows, its pushing the automotive industry to grow with it. Ford, General Motors, Volkswagen, and many others are now producing and marketing EVs.

Once, long ago, it was thought that this would be impossible.

Disclaimer: Johnna is long Tesla.

Id love to hear from you! If you have any comments, concerns, or see a typo, you can email me at johnna@teslarati.com. You can also reach me on Twitter @JohnnaCrider1

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Tesla is one of the worlds 20 fast-growing companies - Teslarati