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October 25, 2021 11:11 pm

Teslas value tops $1 trillion after Hertz ordered 100,000 of its vehicles




Electric Car Maker Tesla Reports Record Quarterly Earnings
Photo by Joe Raedle/Getty Images



Rental car company Hertz has ordered 100,000 Teslas as part of an ambitious plan to electrify its fleet. A first tranche of Tesla’s Model 3 sedans will be available to rent from Hertz in major US and European markets from early November, said the company in a press statement. The announcement comes just months after Hertz escaped bankruptcy.


After the purchase was announced, Tesla’s stock price reached as high as $998.74 early in the day, increasing its market cap to over $1 trillion before the price dropped again. However, by the time the market closed for the day, its price had risen again, finishing at $1,024.86 per share for a market cap of $1.01 trillion. As CNBC notes, that put it in the rare company of other trillion-dollar market...



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Original Link: https://www.theverge.com/2021/10/25/22744504/hertz-tesla-order-100000-vehicles-electrify-fleet

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