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The race is on to become the next Tesla Inc. Tens of billions of dollars depend on the outcome.
Wall Street investors in Motor City are betting a field of electric car startups can emulate the rise of Elon Musk, who is driving a company that’s on track to sell 500,000 battery-powered vehicles this year. year and transform its very first annual profit. His Tesla – set to join the S&P 500 next month – is now more valuable than Toyota Motor Corp., Volkswagen AG, General Motors Co. and Ford Motor Co. combined.
He…
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