[RahulNagaraj]

American electric car manufacturer, Tesla has become the latest company to cross the $1 trillion valuation.

The firm's stocks rose by 12.7% recently, post the announcement from Hertz to purchase 100,000 (1 lakh) Tesla vehicles for its own car rental business.



The company has purchased the huge fleet of Model 3s for $4.2 billion, which it will pay over the next 14 months. The order is the single largest car rental order for electric vehicles. Hertz has stated that the company will build a network of charging stations as well.

With the rise in Tesla's stock prices, Elon Musk, who has a 23% stake in the company, is now worth over $230 billion.

Tesla now joins the likes of Alphabet, Apple, Amazon and Microsoft to cross the $1 trillion valuation.

Source: Reuters

Link to Team-BHP news

[vinya_jag]

Tesla Model 3 is todays Synonym for the Ford Model T. A true Revolution.

[CarManMotorcycl]

A massive 12.7% increase in stocks just because an almost dead company decided to order 100k Teslas? We should stop terming Tesla as a car manufacturing company, they are a tech company who just manufactures cars.
On another note, this increase was probably because of the cultist following of the brand and the investors thinking Tesla might be the next 'Apple'.

[dragracer567]

Interesting observation from The New York Times. Tesla is an outlier even amongst overvalued tech companies.

[shortbread]

It's a dated argument, they have been shouting through the roof for more than a decade! This is an era where people gamble a large portion of their savings into something like crypto that on paper has no inherent value.

NYT isn't alone, FT have been claiming the same for sometime now. They are not to blame, when has one seen a newspaper ad from Tesla?

The media has their priorities right but their arguments wrong.

Originally Posted by dragracer567

Interesting observation from The New York Times. Tesla is an outlier even amongst overvalued tech companies.

Attachment 2224648

[Pandher]

New York Times is owned by Bezos, who Musk has made fun of multiple times. Also Tesla is not just a car company, their real worth is derived from artificial intelligence and self driving progress. Not to forget their utility business aka Tesla Powerwall and Telsa Solar.

[SmartCat]

Originally Posted by Pandher

New York Times is owned by Bezos, who Musk has made fun of multiple times.

Tiny correction: Bezos owns Washington Post, not NYT!

[gvarma9989]

Originally Posted by CarManMotorcycl

On another note, this increase was probably because of the cultist following of the brand and the investors thinking Tesla might be the next 'Apple'.

I had a similar impression on Tesla. One long drive in a Tesla, changed my entire perspective on cars.

After the road trip, I test drove close to 10 cars from BMW to Porsche to prove Tesla is just a hyped up EV with a huge tablet. I was totally wrong about Tesla, I can assure you Tesla is the next Apple. I drove Mustang EV, VW EV, Volvo EV etc, they lack the vision of Tesla.

I eventually bought one. Can't imagine driving any other car, given a choice. It has flaws like any other brand, but the pros outweigh the cons.

[Venkatesh]

Elon Musk says the company had not signed a contract with Hertz.

Tesla's shares fell 4% in early trading on Tuesday, after a steep jump following the news of the biggest-ever order - 100,000 electric cars for Hertz.



Elon Musk adds, Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers.



Link

[shortbread]

Originally Posted by Venkatesh

Elon Musk says the company had not signed a contract with Hertz.

Tesla's shares fell 4% in early trading on Tuesday, after a steep jump following the news of the biggest-ever order - 100,000 electric cars for Hertz.

Attachment 2227269

Elon Musk adds, Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers.

Attachment 2227270

Link

Another boss move....

Traditionally the American big 3 relied on large rental companies to help spurce up sales numbers. The rental companies on the other hand got cars at incredibly low prices.

[BrokenHW]

Tesla delivered an all-time high 343,830 vehicles in Q3.

Total Q3 production was 365,923. Tesla also announced they will report Q3 earnings on October 19, 2022.