Tesla's Market Value Tops $500 Billion

Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street.

The electric-car maker's shares continued to climb more than 4% on Tuesday.

This increases the company's total market value above $500 billion for the first time.

The milestone comes on the heels of a banner year for Tesla's stock, says CNN.

Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year.

This is in addition to 90,000 of its more expensive Model S and Model X vehicles.