Tesla Crosses $1 Trillion 

The stock rallied nearly 13% after rental car company Hertz said it would buy 100,000 models to beef up its electric-vehicle fleet, an order to be completely fulfilled by the end of 2022.

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The maker of the Model 3 sedan -- the top-selling electric car worldwide -- is now the second fastest company ever to reach this mark, taking just over 11 years since its public debut in June 2010. Facebook Inc. did it faster, although its market capitalization is now below $1 trillion as the stock has sold off over the past two 2 months. The other U.S.-listed members of the trillion-dollar club include Apple Inc., Microsoft Corp., Alphabet Inc. and Amazon.com Inc.Tesla got to $1 trillion from $900 billion in a record-setting two trading days.

Hertz HTZ, said the “initial” order of a total of 100,000 Teslas will be made by the end of 2022. The car-rental company also said it would also invest in new EV charging infrastructure across its global operations in a bid to offer the largest EV rental fleet in North America.