Tesla Stock valuation hits massive 1 trillion as Hertz to order 100,000 EVs by end of 2022

Hertz to invest 1 trillion in Tesla EVs

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Here is a piece of good news for Tesla stock as the company joins trillion-dollar market cap companies like Apple, Amazon, and Microsoft.

Tesla Stock

Tesla Inc.’s valuation shot past $1 trillion on Monday, with the stock closing at a record high, after Hertz Global Holdings Inc. announced plans to order 100,000 Tesla vehicles and a Morgan Stanley analyst raised his forecast for sales and production.

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Chief Executive Elon Musk tweeted “Wild $T1mes” right at the close, with fans cheering the milestone.

Hertz said the “initial” order of a total of 100,000 Teslas will be made by the end of 2022. The car rental company also said it would also invest in new EV charging infrastructure across its global operations in a bid to offer the largest EV rental fleet in North America.

The order was initially reported earlier Monday by Bloomberg.