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Tesla overtakes Toyota to become world’s most valuable carmaker

Shares of electric auto pioneer rise fivefold in year as value of rivals drop because of pandemic

Tesla has overtaken Toyota to become the world’s most valuable carmaker by market value, in the week that marks the 10th anniversary of the electric auto pioneer’s stock market entry. The electric carmaker’s shares have climbed fivefold during the past year, from $230 about 12 months ago to $1,100 on Wednesday, taking the company’s market…

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