PALO ALTO (KRON) — Move over General Motors–the Bay Area is now the home of the most valuable automaker in the United States.
Palo Alto’s electric carmaker has taken the top spot.
Tesla hit a market value of nearly $51 billion dollars, as Tesla is inching closer to some of the most valuable automakers.
Toyota is the world’s most valuable automaker.
It is worth about three times more than Honda, which has a market value of $54 billion.
Investors appear optimistic that Tesla’s upcoming model three-car will make the automaker more accessible to the middle class.