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Tesla Touches Trillion-Dollar Mark as EVs Go Mainstream

  • EV maker is now the fifth biggest U.S. publicly traded company
  • Model 3 top-selling car in EU last month, Hertz places order
Tesla Model 3
Tesla Model 3Photographer: Patrick T. Fallon/Bloomberg
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Tesla Inc. joined an elite group of companies with market values of at least $1 trillion on Monday, a key milestone for the Elon Musk-led carmaker whose shares have been on a tear amid a global shift to electric vehicles.

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 months. The other U.S.-listed members of the trillion-dollar club include Apple Inc., Microsoft Corp., Alphabet Inc. and Amazon.com Inc.