, Columnist
Tesla Overtaking Toyota Reflects Market Shift to Tech
The analysts who follow technology have proved more prescient than those who focus on auto-related industries.
In the passing lane.
Photographer: Spencer Platt/Getty Images
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It's just a matter of time before upstart Tesla Inc. overtakes 82-year-old Toyota Motor Corp. as the world’s most valuable automaker.
At the current rate of the share's appreciation, the 16-year-old designer and manufacturer of zero-emission, battery-powered vehicles made in Fremont, California, is poised to pass Toyota with a market capitalization exceeding $213 billion. All it takes is another one-week rally like Tesla's best in April. Bloomberg calculates market capitalization by multiplying the total number of shares outstanding by the current price of a share.