. Before the change, Tesla was still considered a “junk bond” by S&P and other investment rating services, although the automaker delivered two years’ straight worth of profits with a cash position of more than $18 billion to date.
S&P Global Ratings said that the company’s credit profile has improved due to its continuingly dominant position in the EV industry. Noting the company’s cash flow and increased production capacity with Tesla’s newly opened Giga Berlin and Texas locations, the investment rating index says continued leadership in the market makes it officially investment-grade.
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