Tesla surpasses $1 trillion market valuation for the first time
By MYBRANDBOOK
Tesla has surpassed $1 trillion market capitalisation for the first time ever, after its shares surged over 9.5%. The company's shares hit a record high of more than $998 after American car rental company Hertz placed an order for 1,00,000 Tesla cars.
This milestone is an enormous achievement for Tesla that places it in an elite group of companies that also includes Google parent Alphabet, Amazon, and Facebook, though it's still in the shadows of Apple’s and Microsoft’s $2-trillion-plus market caps.
Tesla also became the second-fastest company ever to reach the $1 trillion mark. It comes after Tesla inks a deal with rental giant Hertz, which recently emerged from bankruptcy, had agreed to buy 100,000 EVs from Tesla. The deal will push the car rental giant’s EV offerings to 20% of its global fleet and is reportedly worth $4.2 billion.
Tesla Chief Executive Elon Musk has set an annual sales growth target of 50%, on average, eventually reaching 20 million vehicles a year. That would be more than twice the volume of current sales leaders Volkswagen AG and Toyota Motor Corp.
Hertz's rescue is led by a group of investors including Knighthead Capital Management, Certares Opportunities and Apollo Capital Management.
"We absolutely believe that this is going to be a competitive advantage for us," interim Hertz CEO Mark Fields said of the Tesla order which is due to be delivered by the end of 2022.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
DRUVA SOFTWARE PVT. LTD.
BEETEL TELETECH LTD.
RELIANCE JIO INFOCOMM LTD.
PRAMA HIKVISION INDIA PRIVATE LIMITED
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : ALOK OHRIE
Alok Ohrie leads Dell Technologies’ India business, overseeing Sales...
Icons Of India : Dr. Sanjay Bahl
Dr. Sanjay Bahl has around four decades of experience in the ICT indus...
ICONS OF INDIA : VINAY SINHA
Vinay Sinha is the Managing Director of Sales for the India Mega Regio...
PARTNER SPEAKERS
PSU
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
