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GM remains most valuable U.S. car company, Tesla is No. 2
April 4, 2017 / 3:27 PM / 6 months ago

GM remains most valuable U.S. car company, Tesla is No. 2

Tesla Motors' mass-market Model 3 electric cars are seen in this handout picture from Tesla Motors on March 31, 2016. Tesla Motors/Handout via Reuters/File Photo

(Reuters) - Tesla Inc, whose market capitalisation passed that of Ford Motor Co on Monday, still trailed General Motors Co as the most valuable U.S. auto firm in mid-day trade on Tuesday.

Tesla traded at $301.74 at mid-day and had a market capitalisation of $49.1 billion (39.4 billion pounds), according to Thomson Reuters data, compared with $51.1 billion for GM.

Tesla on Monday said it delivered a record 25,000 electric vehicles in the first quarter. It plans to begin production this summer of the mass-market Model 3 sedan.

(This story corrects first two paragraphs and headline to show Tesla did not surpass GM as most valuable company, but still trails)

Reporting by Paul Lienert in Detroit; Editing by Chizu Nomiyama

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