Tesla leaps to Wall Street thanks to the agreement with GM

Actions Tesla jumped 5% on news that EV charging would become an industry standard after General Motors joined rival Ford in agreeing to use Tesla’s supercharger network.

The automaker led by Elon Musk it headed for an 11th straight session of gains, which would mark its longest winning streak in two-and-a-half years, if premarket gains hold. Tesla was also the third most traded stock on US stock exchanges.

Tesla, which is already the world‘s most valuable automaker, is set to increase its market capitalization by more than $30 billion to about $780 billion.

Shares of General Motors, whose market cap is much smaller ($49.8 billion) but which sells millions more vehicles a year, rose 3.5%.