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Tesla becomes most valuable automaker in latest stock rally

Tesla is the highest-valued automaker as its shares surged to record highs and the electric carmaker’s market capitalization overtook that of former front runner Toyota Motors Corp.

Tesla shares gained 5 per cent in early Wednesday morning trade to a record of $1,133, boosting the company’s market cap to $209.47 billion - roughly $6 billion more than Toyota is currently valued by investors.

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