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How Tesla is heralding a new culture in auto industry, one car at a time

Investors are betting on Tesla's ability to scale up manufacturing just as they once backed Toyota Motor Corp, which defined the auto industry's last era

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Investors favor the Tesla model, in an industry undergoing fundamental and dizzying change

Reuters Frankfurt / Beijing / Detroit

7 min read Last Updated : Jul 22 2020 | 3:07 PM IST

Tesla Inc's rapid rise to become the world's most valuable carmaker could mark the start of a new era for the global auto industry, defined by a Silicon Valley approach to software that is overtaking old-school manufacturing know-how.

Tesla's ascent took many investors by surprise. But executives at Daimler AG, the parent company of Mercedes-Benz, had a close-up view starting in 2009 of how Tesla and its chief executive Elon Musk were taking a new approach to building vehicles that challenged the established system.

Daimler, which bears the name of the man who invented the modern car 134 years ago, bought a

Topics : Tesla Elon Musk Auto industry

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