Elon Musk’s Tesla is now the 5th largest US public company
Elon Musk-run electric car company Tesla on Monday achieved a market cap of $1 trillion for the first time. Tesla has become the fifth US company to join the $1 trillion club after Apple, Microsoft, Amazon and Alphabet.
Its stock hit a new record-high — more than 9 percent — after crossing $950 during trading. Following the rally, US-based rental car company Hertz said on Monday it has ordered 100,000 Tesla vehicles (at least $4.2 billion) as part of its ambitious plan to electrify its fleet by the end of 2022. The move includes new EV charging infrastructure in the company’s global operations.
Beginning in November, customers will be able to rent a Tesla Model 3 at Hertz Airport and neighborhood locations in key US markets and select cities in Europe. Hertz is also deploying thousands of chargers throughout its location network.
The company said that customers who rent a Tesla Model 3 will have access to 3,000 Tesla Supercharging stations across the US and Europe.
Earlier, Tesla had hiked the prices of all four of its in-production vehicles. The base Model 3 and Model Y electric vehicles cost $2,000 more, at $43,990 and $56,990, respectively. In addition, the base Model S and Model X vehicles will cost $5,000 more, at $94,990 and $104,990, reports Electrek.com.
Global EV sales have grown by 200 percent in the last year and are expected to grow in line with the commitments of global automakers to increase EV sales. For example, in August, three US automakers pledged to increase EV sales by 40-50 percent by 2030.
.