Tesla beats BMW to become world's 4th most valuable carmaker

Elon Musk-led electric carmaker Tesla's shares on Friday rose 1.4%, boosting its market cap to $61.6 billion, about $280 million more than German automobile major BMW. Tesla is now the world's fourth-most valuable automaker, behind Toyota, Daimler, and Volkswagen. Tesla delivered less than 80,000 vehicles last year and has only reported two profitable quarters since it was founded in 2003.