Silicon Valley now owns the most valuable car company in the US. Tesla, the loss-making electric luxury vehicle maker, became the most valuable car company in the US. Piper Jaffray now rates Tesla stock at an equivalent to “buy”. Tesla is currently 13 years old and controls 0.2% of the US market in automobiles; GM, 108, controls 17.3% of the market. Musk’s larger-than-life persona has helped to push his company forward in the notoriously finicky market of luxury car companies.

Source: The Guardian April 10, 2017 16:38 UTC