Tesla chief Elon Musk was named Time magazine's "Person of the Year" 2021.

Iran PressAmerica: This year saw his electric car company become the most valuable carmaker globally and his rocket company, SpaceX, soar to the edge of space with an all-civilian crew.

This year, Tesla's market value soared to more than $1trn, making it more valuable than Ford Motor and General Motors combined.

Tesla produces hundreds of thousands of cars every year and has managed to avert supply chain issues better than many of its rivals while pushing many young consumers to switch to electric cars and legacy automakers to shift focus to EV vehicles.

"For creating solutions to an existential crisis, for embodying the possibilities and the perils of the age of tech titans, for driving society's most daring and disruptive transformations, Elon Musk is Times's 2021 Person of the Year," the magazine's editor-in-chief, Edward Felsenthal, said.


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