Tesla has overtaken Volkswagen as the world’s second most valuable carmaker, after a dramatic rise in share price pushed its market value to more than $100bn (£76.1bn).
Shares rose four per cent on Wednesday, making its valuation second only to Toyota, which has a stock market valuation of more than $230bn.
Tesla delivered more than 367,500 cars last year, up 50 per cent from 2018.
Volkswagen achieved around 11 million vehicles last year, while Toyota sold more than nine million in the first 11 months of 2019.
