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26 Oct 2021

Tesla Joins the $1 Trillion Dollar Club After 100,000 Vehicles Order From Hertz

The Index Today

Tesla’s market value has surpassed $1 trillion on Monday with stock prices doubling and sales rising. The electric vehicle company received a massive bulk order of 100,000 electric cars from Hertz Global Holdings Inc. which require the vehicles to be delivered by the end of 2022.

Other companies which are a part of the elite trillion-dollar club include Apple Inc, Amazon Inc, Google and Microsoft Corp. The market value of Tesla reached $1.03 trillion as its stocks went up more than 12% to $1024.86. The overall rise of Tesla’s value in the past two years has been significant, growing from $100 billion to $1 trillion. This information was provided the Dow Jones Market Data.

Hertz Global Holding’s new order with Tesla will give customers more options for renting electric vehicles. People will be able to rent Tesla Model 3 across many cities in Europe and USA. The financial terms of the agreement have not been disclosed. However, Elon Must tweeted on Monday saying “cars sold to Hertz have no discount.”

Hertz aims to increase its fleet of rental cars and ensure electric vehicles make up around 20%. The electric car vehicles order will enable Tesla to boost its market position as well as annual performance. It was reported the company sold around half a million cars last year. The rental car company initiated this move after officially declaring bankruptcy last year. The firm has undergone a change in ownership and is now expanding under the “new Hertz”. The new approach focuses on electric vehicles, shared mobility and a more digital experience for consumers.

©Photo: nawpic

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