Musk puts electric car firmly in driving seat

Tesla Motors Inc’s market value exceeded $20bn (€15bn) as investors remain optimistic Elon Musk can keep widening the appeal of electric-powered cars.

The stock climbed 3.9% to a $168.07 at 10.13am New York time after reaching an intraday record of $169.30.

Shares of the Palo Alto, California-based company, which had its initial public offering just three years ago, have surged about fivefold this year.