International
22:35 26 October 2021
Post by: WBJ

Tesla zooms past $1 tr market cap on the bet that the EV future is now

Tesla zooms past $1 tr market cap on the bet that the EV future is now
Source: Photo by Milan Csizmadia on Unsplash

Tesla surpassed $1 trillion in market value on Monday after landing its biggest-ever order from rental car company Hertz, a deal that reinforced the electric car leader's ambitions to top the entire auto industry in sales over the next decade.

Tesla shares surged as much as 14.9 percent to $1,045.02, making it the world's most valuable automaker according to Reuters calculations based on its latest filing.

Even Tesla Chief Executive Elon Musk expressed surprise at the velocity of the surge. "Strange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem," Musk tweeted in reply to a comment by Ross Gerber, co-founder of the investment fund Gerber Kawasaki and a Tesla shareholder.

"Wild $T1mes!" Musk wrote in a separate tweet.

Tesla is the first carmaker to join the elite club of trillion-dollar companies that includes Apple, Amazon.com, Microsoft, and Alphabet.

Most automakers do not boast about sales to rental car companies, often made at discounts to unload slow-selling models. But for Tesla and its investors, Hertz's decision to order 100,000 Tesla vehicles by the end of 2022 showed electric vehicles are no longer a niche product but will dominate the mass car market in the near future.

(300sekund


microsoft
tesla
elon musk
apple
alphabet
ev
hertz
amazon.com

More News

lifestyle

LifeStyle
2 days ago

‘It is difficult to predict all the effects of the metaverse now’: an expert

LifeStyle
4 days ago

The famous singer to be charged with inciting fraud

LifeStyle
19 days ago

'With my actions and statements, I want to inspire my sons first and foremost': Małgorzata Rozenek

LifeStyle
26 days ago

‘The line between hatred and opinion is quite clear’: Lanberry

Book of Lists

Book of Lists
11 months ago

The largest Polish companies under the Book of Lists microscope! Book of Lists 2020/2021 certificates have been awarded.

Book of Lists
1 year ago

25th jubilee edition of Book of Lists – project start

advertisement