Pat Stevens/
Tesla has become the first carmaker to be valued at $1 trillion, Financial Times reports.
The feat achieved by Tesla puts it in a small group of US companies to reach the milestone.
Shares in the electric car maker reportedly rose as much as 9.8 percent to $998.74 this afternoon, pushing its market capitalisation above $1 trillion.
Its advance had since been trimmed to 9 per cent, still leaving it up 40.5 per cent in 2021.
The stock had been buoyed earlier in the day after car rental company, Hertz, announced it ordered 100,000 Teslas in an effort to add more electric vehicles to its fleet.
Since Tesla, in July 2020, overtook Toyota to become the world’s most biggest carmaker by market value, investors have pushed its value up by another five times.
It is now worth more than all other public automakers combined and is the sixth American company to join the trillion-dollar club following Apple, Amazon, Microsoft, Alphabet and Facebook.
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