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The relentless rally in Tesla Inc. shares has driven its valuation close to the consumer product behemoth Procter & Gamble Co. as investors bet on the electric vehicle maker’s ability to dominate the automotive market of the future.

Tesla Inc. is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company became the world’s most valuable automaker.

Tesla Inc.’s soaring valuation led to a downgrade by Sanford C. Bernstein analyst Toni Sacconaghi on July 28, who said it is difficult to justify the market capitalization even using best-case scenarios.

Volkswagen AG’s CEO again praised Tesla Inc.’s Elon Musk, this time for showing it’s possible to profit off electric cars even in the midst of a global pandemic.

Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough.

Tesla Inc. lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition and reductions in the government’s electric-vehicle subsidies.

Tesla Inc. kept growing in China last month, with registrations of its electric vehicles jumping to a record in the world’s largest market as the coronavirus outbreak receded.

The prospect of a Tesla Inc. factory in the Austin, Texas, area has moved a big step closer to reality, after Travis County commissioners on July 14 approved tax breaks the electric vehicle maker requested.

After a torrid rally that saw shares more than double since early May, Tesla Inc. is taking a pause on July 15, even as the broader market rises on the hopes for a coronavirus vaccine.

Tesla Inc.’s relentless surge continued July 13 amid several upcoming events that include the possible unveiling of new battery technology from the electric vehicle maker, entry into a lucrative new market and the potential inclusion of the stock into the prestigious S&P 500 Index.