Tesla's market value passes $1 trillion
A large car-rental order helped push the company across a milestone few carmakers had approached.
Archive entry. This article looks back at an event from October 25, 2021. It was drafted with AI assistance from public records and is being fact-checked. See our About page.
On October 25, 2021, Tesla's market capitalization closed above $1 trillion for the first time. The jump followed news that car-rental company Hertz planned to buy 100,000 Tesla vehicles.
At that point Tesla was worth far more than any other car company, even though it sold only a small fraction of the vehicles that larger rivals did.
Tesla's valuation has since swung sharply, as high-growth stocks do, but the milestone marked how far the company had come since its 2010 IPO.
