As the electric car maker’s market value has soared in the past year, the 10 year old company could even soon take over the 105 year old auto maker – a situation that called GM to action.
With its shares and market value rising this year by 470%, Tesla is now worth $23 billion, while General Motors only surged a more modest (although very healthy) 25%, to $50 billion. If nothing goes wrong – like let’s say more Model S cars catching fire – next year the biggest American automaker could be overshadowed by a constructor that only builds electric cars and so far has only one model on the market.
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