The recent Hertz order of 100,000 Tesla cars, including 50,000 for Uber drivers, might be just the beginning of something even bigger but the company added a chip shortage and other constraints could affect the plan..
Tesla appears to be swiftly ascending the rankings of the world’s most valuable automakers, having recently struck a massive business deal with Hertz, a US-based car rental company.
The rental company will purchase 100,000 Tesla Model 3 vehicles, bringing the company’s market worth to $1 trillion for the first time.
Tesla’s stock valuation has also risen to a new all-time high of $1,045 per share, just one trading day after it reached a previous all-time high of $900 per share.
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According to Bloomberg, the rental car firm has set aside $4.2 billion for the deal, which is the highest ever for a single electric vehicle – the Tesla Model 3.
Elon Musk, the CEO of Tesla Motors, also expressed his delight at the triumphant feat via Twitter.
Tesla has become an even more formidable player in the automobile sector as a result of the recent milestone. It ranked fourteenth overall in Interbrand’s most valuable brands list for 2021, and fourth among all automakers, with the fastest-growing year-on-year market value of 184 percent, compared to three to five percent for other companies.
The rapid growth of Tesla’s market capitalization has prompted some automakers, including Toyota, to advocate against the complete normalization of electric vehicles.
However, as people become more familiar with the technology, comfort, and overall ease of ownership that EVs provide, demand for them is gradually increasing around the world.
