Elon Musk has steered past Henry Ford in the minds of investors, the latest sign that the auto industry is undergoing a seismic shift.

Tesla Inc., the upstart Silicon Valley electric-car maker run by Mr. Musk, has overtaken Ford Motor Inc., the automotive pioneer that is exactly 100 years older, as the second-largest U.S. auto maker by stock-market value.

Shares of Tesla rose 2.8% to $ 286.13 in early Monday trading, pushing…

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WSJ.com: US Business

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