Tesla passes BMW to become the 4th most valuable carmaker

Tesla Inc. stock is the new ultimate driving machine.

Shares of Elon Musk’s electric-car maker climbed 1.4 per cent as of 9:49 a.m. Friday, boosting its market capitalization to $61.6-billion, about $400-million more than BMW AG. Tesla now ranks as the fourth-most valuable automaker, behind Toyota Motor Corp., Daimler AG and Volkswagen AG.