Tesla market value passed $1 trillion today after Hertz ordered 100,000 Model 3

Tesla market value surpases $1 Trillion

Hertz ordered 100,000 Tesla Model 3 today. Bringing Tesla market value to over $1 Trillion. It’s the single largest order of electric vehicles ever

Just after car rental company Hertz escaped bankruptcy, they decided to go heavy on the ambitious plan to electrify its fleet. Hertz ordered 100,000 Tesla Model 3 today with a value of about 4.2 Billlion Dollar. A first tranche of Tesla’s Model 3 will be available to rent from Hertz in major US and European markets from early November, said the company in a press statement.

After the purchase was announced, Tesla’s stock price reached as high as $1039, increasing its market cap to over $1 trillion. As CNBC notes, that put Tesla in the rare list of companies of over a trillion-dollar market cap like Apple, Amazon, and Microsoft.

It was also reported this morning that the Tesla Model 3 became the first electric vehicle to top monthly sales charts in Europe this September. Earlier this month, the company reported record sales in its third quarter, despite chip shortages denting the automotive market.

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In a press statement, Hertz’s interim CEO Mark Fields said: “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest. The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world.”

To publicize the move, Hertz has launched a new ad campaign featuring Tom Brady. Watch it here on Twitter.

In other news today regarding Tesla, it was reported this morning that the Tesla Model 3 became the first electric vehicle to top monthly sales charts in Europe this September. This is also the first time ever that a Electronic vehicle is the best-selling car in Europe and surpassing conventional cars.

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