Tesla now has a market capitalization of over trillion dollars, or $1,000,000,000,000. After record sales in Europe, Elon Musk’s company has announced a major contract with rental company Hertz.
Tesla now has a market capitalization of over trillion dollars, or $1,000,000,000,000. Tesla has joined the preferred list of companies that have reached a trillion dollar valuation. It is the first automaker to achieve this goal, which is a remarkable milestone for a company not even 20 years old.
Only six companies had succeeded in crossing this milestone: the four Gafa, Microsoft and PetroChina. In the third quarter of 2021, only Microsoft, Apple, Amazon and Google still exceeded this stock market valuation threshold, which makes Tesla 5th in the current ranking. Note that Facebook managed to reach this milestone faster than Tesla.
An order of 100,000 Tesla
Shortly before reaching this milestone, Hertz announced that it had completed the purchase of 100,000 Teslas in a huge first step towards electrifying its rental car fleet. The contract represents approximately $4.2 billion in revenue for Tesla. An order that will have to be delivered within the next 14 months, which could have an impact on Tesla’s ability to deliver as many vehicles, in addition to sales to individuals and businesses.
This is Model 3, Bloomberg points out that the cost of the order implies that Hertz paid the list price for the Teslas, and therefore did not receive a discount for its large order.
Tesla Model 3s will be available for rental at Hertz locations in major US markets and parts of Europe beginning in early November. They will have access to Superchargers, but Hertz is also building its own charging network.
Record sales in Europe
A few days before, the Tesla Model 3 became the best-selling car in Europe. According to data provided by Jato Dynamics, Tesla delivered 24,591 Model 3 units in September, becoming the best-selling car ahead of thermals.
It is also the first time that an electric car has occupied this first place on the European continent. But the feats don’t stop there, as the Tesla Model 3 also became the region’s best-selling car manufactured outside of Europe — within a month.
|Position||Models||Units||vs. September 2020|
|1||Tesla Model 3||24591||+58%|
Of course, the crisis linked to the shortage of components may have slightly to help the Tesla Model 3 to achieve such a feat. While other manufacturers are having serious problems producing the volume of cars demanded by the market, Tesla has managed to avoid part of the problem by resorting to alternative hardware and making changes to the software.
” We were able to use alternative chips and rewrite the firmware in a matter of weeks, it’s not just changing a chip; You also need to rewrite the software announced Elon Musk last July. The manufacturer would have designed up to 19 firmware variants to withstand the crisis.
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