Tesla surpasses GM to become most valuable US carmaker

With an increase of 3.7 percent in early Monday morning trading on the New York Stock Exchange, U.S. automaker Tesla Inc. surpassed General Motors Co. in valuation to reach $51 billion. That's $1.7 billion more than GM.
 
Both Tesla and GM have been in a dead heat recently for the top spot. This comes just one week after Tesla overtook Ford Motor Co. in valuation, sparking debate about the relative value of Elon Musk’s company.
 
Yesterday's news is evidence of investor confidence in Tesla’s vision of electric vehicles eventually becoming the norm in passenger transportation.
 
GM expects to earn $9 billion this year and Ford $6.3 billion. Tesla, on the other hand, is expected to lose $950 million.
 
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