Federal agencies opened investigations, including one to determine if there was a safety defect in the autopilot mode. Weeks later, Tesla raised $1 billion in stock and debt offerings to bolster its coffers in advance of the Model 3 introduction. The run continued and on April 10, the stock made another upward surge to $312.39. That made Tesla more valuable than General Motors, a company that produced more than nine million vehicles and earned $9.4 billion in 2016. Tesla, by comparison, produced about 85,000 cars last year, and it reported losses in most of the last several quarters.

Source: New York Times July 06, 2017 13:52 UTC