Tesla briefly joined the $1 trillion market-cap club in October 2021.
Tesla was founded in 2003 and became one of the world’s best-known electric-vehicle manufacturers. Its product range grew from the Roadster to mass-market models such as the Model 3 and Model Y, while the company also developed battery storage, charging infrastructure, and solar-energy products.
The October 2021 valuation surge followed news that Hertz had ordered 100,000 Tesla vehicles. Investors also continued to price in expectations for rapid electric-vehicle adoption and Tesla’s future production growth. Reaching a market capitalization does not mean the company received that amount in cash.
Tesla’s milestone is sometimes confused with its stock-market ranking at a particular year-end. Because share prices move every trading day, the company moved above and below the trillion-dollar level rather than holding a permanent position there.