Hyperdrive
Tesla Approaches Milestone of World’s Most Valuable Carmaker
- Tesla could surpass Toyota in value despite gulf in output
- Shares in Musk’s automaker have risen more than 20% this month
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The surge in Tesla Inc.’s shares so far this month moved Elon Musk’s company even closer to displacing Toyota Motor Corp. as the world’s most valuable carmaker.
With a market capitalization of more than $190 billion, Tesla still has some distance to close to reach Toyota’s $210.5 billion valuation, which includes treasury shares, according to data compiled by Bloomberg. A rally of about another 11% in Tesla shares could see it claim the crown if Toyota holds steady, with Tesla already up 23% since the beginning of June.