Tesla Hits the $1 Trillion Valuation Mark

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The automobile brand surpassed a market value of about $1 trillion on Monday after it struck a deal with car rental firm, Hertz.

Hertz has the biggest rental car order for electric vehicles; and will pay $4.2bn for about 100,000 units of Model 3s over the next 14 months, making it part of its plan to build the largest electrical vehicle rental space in North America.

Tesla has joined the tech companies – Apple, Amazon, Microsoft and Facebook among others – who have passed the trillion-dollar valuation. Mark Field, Hertz boss also hinted that ‘electric vehicles are now mainstream and we’ve just begun seeing the rising global demand and interest.’

Tesla is said to be worth the market cap of the nine largest carmakers around the world, including Toyota and Volkswagen. Wall Street treats and values Tesla as a tech company, even though it is a car company.

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