Tesla’s market value tops $1T after Hertz orders 100K cars

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DETROIT (AP) — Hertz has announced that it will buy 100,000 electric vehicles from Tesla.

It’s one of the largest purchases of battery-powered cars in history and the latest evidence of increasing commitments to EV technology.

The news of the deal triggered a rally in Tesla’s stock, driving the carmaker’s market value over the $1 trillion mark for the first time.

The purchase by one of the world’s leading rental car companies reflects its confidence that electric vehicles are gaining acceptance with environmentally-minded consumer as an alternative to vehicles powered by petroleum-burning internal combustion engines.

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