Tesla Stock Hits $1 Trillion Market Cap, Passing $1000 per Share as Hertz Orders 100,000 Model 3s for $4.2 Billion
Tesla and Hertz stock prices soar with news of Hertz making Tesla’s largest order of electric vehicles to date.
Tesla stocks grew a whopping $36 billion dollars today as news broke of Hertz putting money where their mouth is. Diving into the electric vehicle rental market, Hertz purchased 100,000 (mostly) Model 3 Teslas to rent out to their customers. Hertz recognizes the change in demand from combustable engines to electric motors, and aims to provide their customers with an experience they want and increasingly prefer.
Tesla Joins the $1 Trillion Dollar Club
The Visual Capitalist reports on companies that have joined the $1 Trillion Dollar Club. A club that Tesla has now joined with their yuuuuuuge Hertz order, giving them a good boost in their market cap and stock share prices.
Could the federal government be a future client as well?
What other manufacturers are equipped to produce fleets of EVs?
Should electric vehicle fleets be a priority to optimize sustainability, and what metrics should be used to achieve these goals?
Hertz’s interim CEO, Mark Fields Bullish on the Future of Electric Vehicles
Hertz’s interim CEO, Mark Fields, stated in a press release that “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest.”
The press release also sites Pew stating that 40 percent of consumers want to purchase an electric vehicle for their next car, and that EV sales were up 200 percent last year, and the trend is growing, essentially affirming the move towards mainstream electric vehicles.
Hertz aims to offer access to their new fleet of Teslas starting in November at airport and neighborhood locations in the US and parts of Europe, and will build thousands of additional charging stations to expand their service network.
Tesla’s largest order to date helped their stock prices soar, reaching over a $1 trillion dollar market cap. In addition, Hertz’s purchase marks a big turn around for the company as they were previously struggling with bankruptcy during the pandemic, which brought the travel industry to a stand still.
What do Tesla and Tom Brady Have in Common?
Hertz features Tom Brady in their new Tesla rental advertisement. A helpful influencer in converting football fans into modern day electric vehicle renters. As the EV charging infrastructure grows, many who experience ‘range anxiety’ will eventually not have to worry, as the charging grid is transforming and expanding it’s EV charging foot print.
Biden Pushes for Federal Electric Vehicle Fleet Transition
President Joe Biden recently announced a major shift in support for the transition to electric vehicle for the US’s federal fleet of vehicles, signaling support for the electric future.
Biden’s goal is to aim for half of the new US fleet of vehicles to be zero emissions by 2030, in an effort to take a stance against global warming, reduce cost, and increased sustainability.
As reported by CNBC, the public relations announcement is “non-binding and largely symbolic,” though still an improvement as the big three US automakers, Ford, GM and Stellantis, made a joint statement about the matter, claiming that they were “commitment to be leaders in the U.S. transition to electric vehicles.”
The Future is Electric
Will your next auto purchase be an electric vehicle?
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