Toyota, valued 277B is worth almost 4 time less than hyped Tesla, which has it's market cap at 1070B.
Even though Toyota revenues for 2020 was 275B, meanwhile Tesla were just 12B. That's less than 20 times!
(Tesla has no data for 2021 yet, so that's why I compare 2020)
Yes, I do understand that Tesla is a one of kind with it's unique perks such as Autopilot, prestige of having a Tesla and many cool features.
On the other hand, Toyota doesn't offer anything special.
It's just a regular japanese car, but with superior reliability and quality. Do not forget that Toyota also owns a luxury car company of Lexus, which has the same if even better reliability and quality than Toyota.
I am not necessarily saying that Toyota is superior to Tesla, just that Tesla's value is very speculative when compared to a renowned car brand such as Tesla.
When we look at the technical side, Toyota has just broke from a 31 weeks long consolidation which gives Toyota pretty enough room for a rally.
Add to that it just broke into a new all time high, MACD gave a buy signal and RSI suggest bullish momentum to arrive, Toyota is ready to rally.