Shareholders of electric vehicle manufacturer Tesla Inc. at the annual meeting approved the stock split at a ratio of „3 to 1”, show preliminary vote count data.

The decrease in the value of shares as a result of the split will make them more accessible to employees and individual investors, the company believes.

The previous split took place in August 2020. Then Tesla held a split of ordinary shares at the rate of 5:1, each shareholder of the company received dividends in the form of four additional ordinary shares for each security he owned.

At the same time, the split will not affect the market value of the company, which, according to the results of trading on Thursday, exceeded $963 billion.

As Tesla CEO Elon Musk noted during the annual meeting, the company will likely need about a dozen factories to reach the goal of selling 20 million electric vehicles annually by 2030.