Oct 25, 2021

Tesla surpasses $1 trillion valuation after Hertz order

Shares in the electric carmaker climbed 12.6% after it struck a deal to sell 100,000 vehicles to the car rental firm Hertz. Tesla has been the world's most valuable carmaker for some time, but brands like Ford and GM make more cars. For years, Tesla struggled to ramp up production of its cars, leading some investors to speculate it would fail. Tesla produced around 500,000 cars in 2020 - far lower than the likes of Volkswagen, Toyota and the Renault-Nissan-Mitsubishi Alliance. The investigation comes following a series of 11 crashes involving Tesla models and emergency vehicles since 2018..

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