Cars | Tesla’s market capitalization exceeded $ 1,000 billion

Electric rental cars come into circulation in the United States and some European cities.

Electric car manufacturer Tesla’s market capitalization rose to more than a trillion, or $ 1 trillion, on Monday after it received a large order from rental car company Hertz.

Hertz, one of the world’s largest rental car companies, announced that it would order 100,000 cars from Tesla by the end of next year.

Electric rental cars will be available in the United States and some European cities, the company says.

Hertz also says it will install electric car charging points in its domains.

Car manufacturers usually don’t brag about orders from rental car companies, as rental car companies get to buy cars at a discount. However, investors interpreted Hertz’s order as meaning that Tesla is no longer a niche market product, Reuters reports.

Tesla’s share moved in the evening in Finnish time in New York, rising more than 9.5 percent to $ 995.75.

Tesla is the largest automaker in the world in terms of market value, and its market value already knocks the market values ​​of technology giants like Apple, Amazon and Microsoft.

Tesla’s share was also supported on Monday by the purchase of the target share price by the investment bank Morgan Stanley.

The bank raised the target price by 33 percent to $ 1,200 as it expects Tesla’s deliveries to exceed eight million vehicles in 2030.

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