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Tesla challenges BMW; overtakes it briefly in market capitalisation

Rally in Tesla shares spurred by CEO's confidence in selling electric vehicles, but stokes controversy

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Published Sun, Jun 11, 2017 · 09:50 PM

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    New York

    BMW AG makes ultimate driving machines, but Tesla Inc's stock is the one that's motoring.

    A rally in Tesla shares spurred by chief executive officer Elon Musk's confidence in selling electric vehicles at scale briefly vaulted the company's market capitalisation past the German luxury carmaker in early Friday trading before dropping at the close. The amount of ground Tesla covered was vast: BMW was valued at a US$30 billion premium as at early December.

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