What impact did the Hertz order have on Tesla?

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The Hertz order contributed to Tesla's market valuation surpassing US$1 trillion.

The order from Hertz for 100,000 electric vehicles, placed in October and scheduled for completion by 2022, significantly bolstered Tesla's market standing. This substantial commitment from a major rental company was a key factor in the electric vehicle manufacturer achieving a market capitalization exceeding US$1 trillion.
Significant Order from Hertz

In October, Tesla secured a large order from the rental company Hertz for 100,000 electric vehicles. The agreement stipulated that these vehicles were to be delivered by the end of 2022.
Market Valuation Milestone

Following the announcement of the Hertz order, Tesla experienced a substantial increase in its market valuation. This event propelled the automaker into an exclusive group of companies whose market capitalization surpassed the US$1 trillion mark.
Broader Context of Tesla's Performance

The Hertz order occurred against a backdrop of strong overall performance for Tesla. In 2021, the company delivered nearly one million vehicles globally, nearly doubling its output from the previous year and exceeding its own delivery growth targets of 50 per cent per annum. This overall success, including the significant Hertz order, underscored Tesla's market position and growth trajectory.

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What impact did the Hertz order have on Tesla?

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