Tesla overtakes Toyota to become the world's most valuable car company

Elon Musk-led electric carmaker Tesla on Wednesday displaced Toyota as the world's most valuable carmaker by market value after the company's shares climbed over 4%, giving it a market valuation of over $208 billion. Toyota's market cap is $203.21 billion. Tesla shares have more than doubled since the start of the year and hit a 52-week high of $1,129.18 today.