14 YEAR OLD TESLA IS NOW WORTH MORE THAN FORD

Tesla Motors is an electric car maker founded in Silicon Valley, California in 2003

The firm is named after scientist Nikola Tesla, a Serbian-American who helped design the alternating current electricity supply system

Tesla’s stock market value is now greater than Ford’s – despite Ford selling 27 times more cars

Its main investor Elon Musk has now run three tech firms which have passed the $1bn valuation. Others were Paypal and Space X – which makes reusable rockets

Tesla’s Model S has two major titles − the most streamlined production car, and the largest panoramic sunroof

The boot of the Model S is in the front of the car. It’s been dubbed a frunk − a front trunk

TESLA has overtaken Ford to become the second most valuable player in the American auto industry – despite selling 27 times fewer cars.

The electric car maker, which is backed by entrepreneur Elon Musk, climbed as much as 5.7pc yesterday after it revealed it had delivered a record 25,000 vehicles in the last three months.

Tesla is worth $47.7bn compared to Ford’s $44.8bn, even though Ford sells 236,000 cars a month.

The start-up delivered 13,450 of its Model S ( pictured) and 11,550 of its Model X SUV in the first three months of the year, while deliveries as a whole were 69pc up on the previous year.

Shares in Tesla have soared more than 30pc since the start of the year, buoyed by expectations of the Model 3, its ‘most affordable car’.

The Tesla Model 3, which costs about half as much as the Model S at £28,000, will begin production in July.

Analysts have suggested the Model 3, along with other vehicles including a small SUV, could significantly increase sales volumes – making Tesla more attractive to investors.