Comment on Tesla’s Market Value Tops $1 Trillion After Hertz Orders 100,000 Electric Cars

Tesla’s Market Value Tops $1 Trillion After Hertz Orders 100,000 Electric Cars

(DETROIT) — Hertz announced Monday that it will buy 100,000 electric vehicles from Tesla, one of the largest purchases of battery-powered cars in history and the latest evidence of the nation’s increasing commitment to EV technology. The news of the deal triggered a rally in Tesla’s stock, driving the carmaker’s market value over the $1 trillion mark for the first time. The purchase by one of the world’s leading rental car companies reflects its confidence that electric vehicles are gaining acceptance with environmentally minded consumers as an alternative to vehicles powered by petroleum-burning internal combustion engines. In an interview with The Associated Press, Mark Fields, Hertz’ interim CEO, said that Teslas are already arriving at the company’s sites and should be available for rental starting in November. [time-brightcove not-tgx=”true”] Hertz said in its announcement that it will complete its purchases of the Tesla Model 3 small cars by the end of 2022.

 

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