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Tesla Appears to Turn a Corner, Lifting Valuation to $80 Billion

  • Deliveries record adds to sense Musk is hitting his stride
  • ‘Tesla killers’ fail to materialize as rival EVs slump
A Tesla Model 3 moves off an assembly line during a ceremony at the company's Gigafactory in Shanghai, on Dec. 30, 2019. 

A Tesla Model 3 moves off an assembly line during a ceremony at the company's Gigafactory in Shanghai, on Dec. 30, 2019. 

Photographer: Qilai Shen/Bloomberg
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Tesla Inc. is back on top -- this time, it seems, with some real staying power.

The Model 3 maker delivered a record 112,000 vehicles in the fourth quarter and has begun production at a new factory near Shanghai. With the stock soaring to close Friday at an all-time high, Tesla’s market capitalization finished the week just short of $80 billion -- more than double Ford Motor Co.’s stock value. And the Model Y, its next crossover SUV, is slated to launch this summer.