Start Finance Tesla replaces GM as the most valuable US auto company

Tesla replaces GM as the most valuable US auto company

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The delight of US investors over Tesla’s surprisingly high quarterly profit has made the Elon Musk Group the most valuable US automaker yesterday. The Tesla share rose on Wall Street in the course of 17 percent to 298 dollars (about 268 euros), which gave a market value of 53 billion dollars (about 48 billion euros). The electric car manufacturer overtook the traditional company General Motors (GM), which comes to 51 billion dollars (about 46 billion euros).

Tesla had announced on Wednesday after the US market close a profit of $ 143 million. Experts had actually expected a loss.