Tesla becomes first carmaker to be worth $1 Trillion as it shares surges after Hertz ordered 100,000 Model 3 electric sedans.
Tesla, headed by Elon Musk, is now worth more than the combined value of all other publicly listed companies on the planet.
It joins only a handful of companies that are valued over the $1 trillion mark, including Apple, Microsoft, Alphabet and Amazon.
US electric carmaker Tesla’s market value surpassed $1 trillion dollar mark on Monday, just moments after it was as announced that Car Rental Company Hertz had ordered 100,000 Model 3 electric sedans to its fleet.
Yesterday’s announcement that Tesla has signed its largest-ever order with Hertz saw its share price climb 13 per cent on Wall Street, hitting a $1 trillion valuation ($1.027 trillion or $1,027 billion), the highest of any automaker.
Tesla, headed by the World’s Richest Man, Elon Musk, is now worth more than the combined value of all other publicly listed companies on the planet.
It joins only a handful of companies that are valued over the $1 trillion mark, including Saudi Aramco, Apple, Microsoft, Alphabet (Google’s parent company) and Amazon.
Tesla’s deal with Hertz worth $4.3 billion is seen by analysts as an indication that more rental companies will eventually ditched their gas-powered fleet for battery-powered cars.
The deal, which puts Tesla in a favorable position for the future, is also the biggest-ever rental car order for electric vehicles. Hertz said it will make Tesla Model 3 sedans available to customers as soon as November.