For a moment on Monday, Tesla was the most valuable U.S. car manufacturer.
Well, sort of.
Let’s back up a moment. News that Tesla surpassed Ford earlier in April caused a flurry of news stories, helping add even more hype to the company’s upcoming Model 3 launch in July. With Tesla jumping over General Motors on Monday, round 2 had begun.
It’s easy to see why this is news. Tesla is still primarily buoyed by future expectations and faith in CEO Elon Musk. Meanwhile, Ford and General Motors, stalwarts of the U.S. economy, are massive companies that are consistently selling vehicles. How can Tesla be worth more? Read more…