FILE PHOTO: Tesla Inc CEO Elon Musk speaks onstage during a delivery event for Tesla China-made Model 3 cars at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo
DETROIT (Reuters) - Tesla Inc and Wall Street made 2020 the year that the U.S. auto industry decided to go electric.
Tesla's market capitalization surged above $600 billion, making the once wobbly startup founded by billionaire Elon Musk worth more than the five top-selling global vehicle making groups combined. The exclamation point came on Friday when Tesla rose to a record high in frantic trading ahead of the stock's much anticipated entrance into the benchmark S&P 500 index.
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