Tesla Surpasses $1 Trillion Market Value for the First Time in Its History
Oct. 26, 2021Joining the likes ofApple, Google, and Amazon, Tesla hit and surpassed the $1 trillion market value on Monday, with its share price rising to over $1,000 per share for the first time ever. The American electric carmaker has been profiting from the booming demand for EVs and is currently underway toexpand its presence in Indiato further increase its reach globally.
The share prices jumped by 12.6% following the announcement of Tesla’s recent deal with the car rental giant Hertz. As per reports, Hertz, which recently came out of bankruptcy, signed a deal with Tesla to acquire 100,000 electric cars for its operations. The deal aims to push Hertz’s EV offerings up to 20% and the company reportedly paid around $4.2 billion for it.
Tesla is aiming to deliver the order to Hertz by next month and the latter will have 100,000 Tesla Model 3 cars in its inventory by the end of November. Other than this, Tesla’s market value further increased, thanks to the massive sales of the Tesla Model 3 in Europe last month. As per a recent Reutersreport, it was the first time in the European market that an electric vehicle outsold gas-powered cars.
A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.
