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Tesla's Biggest Victory Yet (Update 1)

Updated from 8:32 a.m. EST to provide analyst comments in the twelfth paragraph.

NEW YORK (TheStreet) -- First, Tesla Motors (TSLA) set out to revolutionize the electric car market. Now, it's revolutionizing the ETF business.

Late on Monday Nasdaq announced that the Palo Alto, Calif.-based company will be joining its NASDAQ-100 Index, as well as the NASDAQ-100 Equal Weighted Index prior to the beginning of trading on July 15, 2013. Tesla will replace Oracle (ORCL), which is joining the New York Stock Exchange.

Tesla shares were higher in early Tuesday trading following the announcement, gaining 3.08% to $125.35.

This announcement solidifies the coming of age of the electric car and the Model S, and most importantly, Tesla itself.

The company could not be immediately reached for comment for this story.

It's pretty incredible that a company that's only 10 years old has joined the Nasdaq 100. As CNBC's Herb Greenberg points, Tesla joined the Nasdaq 100 faster than Netflix (NFLX), and on a similar trajectory to Amazon (AMZN).

Having test-driven a Model S, I can say without a shadow of a doubt, it's the most incredible driving experience I've ever had. The interior of the car is immaculate, and has every gadget and toy you could possibly want. Drivers can go from 0 to full torque instantly. It's truly an experience like no other, and speaks to the innovation that CEO Elon Musk and Tesla have incorporated into their vehicles.

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