Tesla has overtaken Toyota to become the world’s most valuable carmaker by market value, in the week that marks the 10-year anniversary of the electric auto pioneer’s stock market entry.
The electric carmaker’s shares have climbed fivefold during the past year, from $230 around 12 months ago to $1,100 on Wednesday, taking the company’s market capitalisation to $205bn.
Toyota, the world’s second largest single carmaker measured by output with annual production of more than 10m vehicles, was worth around $200bn on Wednesday after its Japan-listed shares fell 1.5 per cent to ¥6,656.
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