Last week, electric vehicle (EV) pioneer Tesla joined companies such as Google’s parent Alphabet, software behemoth Microsoft, iPhone maker Apple, e-commerce powerhouse Amazon.com and social media giant Facebook as one of the handful of listed company to have traded with a market capitalisation of over US$1 trillion ($1.35 trillion).

 

A key catalyst for the whopping rally that sent Tesla’s market value to an electrifying US$1 trillion was the news that car rental giant Hertz Global would buy 100,000 Teslas, at list prices, by the end of next year to rent out to clients. Tesla shares largely maintained the gains even though on Nov 2, Tesla boss Elon Musk tweeted that the contract had not been signed while Hertz maintained that delivery had commenced.

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