One of the newest players in the automotive industry, Tesla co-founded by Elon Musk, just reported their market capitalization of $49.3 billion USD, topping out Ford at $44.3 billion USD and they’re closing the gap on General Motors at $51.3 billion USD. The Palo Alto-based founded in 2003 is making waves in an industry dominated by BIG players, making it one-tenth of its competitors’ age — Ford Motors was founded in 1903. While Tesla gears up for the release of the highly anticipated  Model 3 release, Tesla’s market value increased 30% since the beginning of this year while Ford’s has only increased 5%, reports CNN Tech.

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