Tesla stock jumps on EV charging tie-up with GM
The Elon Musk-led automaker was on course for its eleventh straight session of gains, which would mark its longest winning streak in 2-1/2 years, if premarket gains hold. Tesla was also the third-most traded U.S. stock across exchanges.
Already the world's most valuable automaker, Tesla was set to increase its market value by more than $30 billion to about $780 billion. , whose valuation is much lower at $49.8 billion but sells millions more vehicles annually, rose 3.5%. The rare partnership among the automakers ensures that nearly 70% of the U.S. EV market will now be on Tesla's North American Charging Standard, which is expected to put pressure on other companies to ditch the current industry-standard CCS and build out their networks using Tesla's system.
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