Tesla’s Market Value Tops $1 Trillion After Hertz Orders 100,000 Cars

Tesla’s Market Value Tops $1 Trillion After Hertz Orders 100,000 Cars
A sign bearing the company logo stands outside a Tesla store in Cherry Creek Mall in Denver, Colo., on Feb. 9, 2019. David Zalubowski/AP Photo
The Associated Press
Updated:

DETROIT—Hertz announced Monday that it will buy 100,000 electric vehicles from Tesla, one of the largest purchases of battery-powered cars in history and the latest evidence of the nation’s increasing commitment 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.