For the first time, Tesla's stock market value has eclipsed the combined values of General Motors and Ford Motor Company.

The Silicon Valley electric carmaker's stock jumped nearly 5% on Wednesday, closing at a record $492.14 a share and elevating its market capitalisation to almost $89bn (R1.26-trillion), or $2bn larger than the sum of GM and Ford's respective market caps of $50bn and $37bn.

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