The American electric car manufacturer Tesla surpassed the Japanese car manufacturer Toyota as the most valuable car brand in the world on Wednesday.
Tesla stock rose 3.5 percent on Wednesday on the New York Stock Exchange.
The controversial CEO and major shareholder Elon Musk’s company was valued at $207.2 billion. That’s more than Toyota’s value at the time.
Tesla produced 103,000 vehicles in the first quarter or about 4 percent of the nearly 2.4 million cars that rolled off the production line at Toyota.
The Tesla share was worth more than double this year. Three weeks ago, it was above the thousand dollar mark for the first time since the IPO ten years ago.
In January, Volkswagen already passed as the second most valuable car brand, and now it is worth more than twice as much as the German car group.