Bitcoin NewsWorld News

Tesla shares rise sharply after partnering with Hertz; The market value of the bitcoin holder exceeded $ 1 trillion

Tesla’s partnership with one of the world’s largest car rental companies pushed the company’s stock market value above $ 1 trillion for the first time in history. The company, led by Elon Musk, owns 42,000 bitcoins that were bought at an average price of about $ 31,700.

to the Report After the Hertz car rental company ordered the purchase of 100,000 cars from the Tesla, the Guardian’s market value for the electric car maker exceeded $ 1 trillion for the first time in history.

Tesla’s stock market value increased in 2020 and 2021, as investors have sought to accelerate the sale of electric vehicles since the US government considered banning petrol and diesel vehicles for weather purposes.

Shares of Tesla rose 9 percent to $ 1,045 before the correction, after Hertz announced its order on Monday. According to the number of shares announced in the latest documents of the company, Tesla shares must be traded above $ 995.75 for the market value of Tesla to be more than $ 1 trillion.

Tesla shares rise sharply after partnering with Hertz;  The market value of the bitcoin holder exceeded $ 1 trillion
Tesla stock price chart

As a result, Tesla was able to increase its market value to over $ 1 trillion, as were major technology companies such as Apple, Amazon, Alphabet, Facebook, and Microsoft. Apple was the first company to reach this figure in 2018.

This came after Tesla’s third-quarter sales hit a record high in 2021, and the company’s Model 3 became the best-selling car in Europe in September. This was the first time that a battery-powered electric car topped the European region’s monthly sales chart.

Hertz has announced that the cars will be delivered by the end of 2022 so that the company can implement its plan to build the largest fleet of rental electric vehicles in North America. Hertz, however, did not elaborate on details such as how to finance the purchase, which could reach as high as $ 4 billion, even with a major discount.

Hertz filed for bankruptcy last year, while veteran American football defender Tom Brady is set to campaign for the new Tesla fleet.

As Tesla shares rose, so did its CEO, Elon Musk. His net worth before Monday was more than $ 252 billion. His fortune is about $ 60 billion more than Jeff Bezos. Bezos, the founder of the Amazon website, is the richest man in the world after Elon Musk and the founder of Blue Origin, a rival to Ilan Musk’s SpaceX.

The company’s stock price rose on Monday, despite Tesla being forced to cancel an auto-update of its cars over the weekend. Ilan Musk tweeted on Sunday that the company would return to the previous version of its auto-driving feature, but announced on Monday that a new update would be released.

Tesla sold 24,600 Model 3 cars in Europe in September, according to figures released by Jato Dynamics, which collects car data. The sale, which accounts for 2.6 percent of the European market, shows that Tesla performs better than models with internal combustion engines, such as Renault’s Clio or Volkswagen’s Golf.

Tesla shares rise sharply after partnering with Hertz;  The market value of the bitcoin holder exceeded $ 1 trillion
Picture of Tesla Model 3 car

The Tesla Model 3 may not be able to maintain its position at the top of the sales table, as the company had previously postponed the delivery of these models until the end of the last quarter of this year. However, this is another turning point in the automotive industry, as the industry must prepare for the end of sales of gasoline and diesel vehicles in the markets of some countries in the next 10 years. In addition, all internal combustion engines will be banned in the UK by 2035; Where Tesla Model 3 is currently the most popular electric vehicle.

Gasoline cars still dominate the European market, as no suitable electric cars with low-cost batteries have yet been produced. However, sales of diesel cars have dropped significantly due to air quality issues. Prior to the outbreak of the Corona virus, 10.3 new diesel vehicles were registered for each electric or hybrid vehicle. According to Jato Dynamic, the ratio has now dropped to 1.3.

Last week, Tesla was able to increase its quarterly sales record and improve its revenue record with revenue of $ 1.6 billion. The success of the Model 3 and the Y-Chassis in September means that Tesla is the largest seller of electric batteries in Europe.

German companies Volkswagen and Stellantis and the Franco-Italian company, which is set to merge with Peugeot and Fiat Chrysler, are likely to challenge Tesla.

With Tesla climbing to the top of the European sales table, the electric car maker is the first non-European company to achieve this. Many of Tesla’s traditional competitors, meanwhile, have long seen declining sales due to a shortage of computer chips around the world; A crisis that has affected carmakers in different countries. In the meantime, Tesla has tried to use existing chips by rewriting its software to solve this problem.

According to Jato Dynamics, European car registrations fell to 964,800 this month. This number has decreased by 25% compared to September (September) 2020 and by 24% compared to September (September) 2019, before the outbreak of Corona virus.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button