That's true, but underscores how treacherous comparisons between big companies based on market caps are. By every metric other than investor confidence in a single narrative (except maybe R&D spending?), Ford dwarfs Tesla and will continue to do so for the foreseeable future.

I don't think anyone has any trouble telling a story in which Tesla is ultimately a more valuable company than Ford. And I agree that's a big deal. But this comment thread suggests the market cap comparison is some kind of milestone. It's hard to articulate what that milestone would be.