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Thanks To A Humongous Order By Hertz, Tesla’s Value Tops $1 Trillion

By 10/26/2021 7:00 PMNo Comments

After a whopping order of 100,00 cars by leading car rental company Hertz, Tesla’s value on Monday night 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.

In an announcement by Hertz, the company ordered 100,000 Teslas as part of an ambitious plan to electrify its fleet. As it stands, Tesla’s Model 3 sedans will be available to rent from Hertz in major US and European markets from early November. Anyone renting a Tesla from Hertz will be able to use the automaker’s network of 3,000 superchargers across the US and Europe. Hertz says it’s planing on supplementing these chargers with “thousands” of its own, dispersed “throughout its location network.”

Revealing the new Tesla fleet with a video ad featuring Tom Brady on Twitter, Hertz wrote, “GOAT’s recognize GOAT’s. Introducing our all-new EV fleet (@TomBrady not included) #Hertz #LetsGo”

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.”

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Rhea Sovani

Author Rhea Sovani

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