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Elon Musk’s Tesla Overtakes Ford And GM, Becomes The Most Valuable Carmaker In America
Tesla CEO Elon Musk steps out of the new Tesla Model X during an event to launch the company’s new crossover SUV on September 29, 2015 in Fremont, California. (Justin Sullivan/Getty Images)
Tesla has become the most valuable US carmaker with its blockbuster run continuing in the stock market - the reason largely attributed to a huge demand for its electric vehicle, the delivery of which will begin by the end of this year.
The American carmaker outdid Ford today in the stock market having passed GM’s market cap on Tuesday.
However, Tesla’s potential helped prop up its stock with the company preparing to launch its Model 3 electric vehicle. With prices starting at $35,000 before tax incentives for green vehicles, demand was incredibly high with around 373,000 pre-orders as of May last year.
As of now, Tesla appears to be on target to meet its goal of beginning shipment this year and even delivering some of the first vehicles by the end of 2017.
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