Tesla Becomes First Carmaker To Worth $1 Trillion As Shares Surges After Hertz Ordered 100,000 Model 3 EVs

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.

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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.

• See Also : Car Rental Company Hertz Orders 100,000 Tesla Model 3 Worth $4.2 Billion