From WSJopinion: Why does Tesla still need subsidies to make electric cars? A $1 trillion company doesn’t need government aid
Elon Musk struck gold again Monday when Tesla Inc., the electric-car maker he founded and runs as CEO, reached a stock market capitalization of $1.03 trillion. That’s a staggering business achievement, even discounting for today’s monetary-policy induced surge in asset prices.
Tesla’s 12.7% Monday price leap was triggered by news that Hertz will buy 100,000 Tesla Model 3 cars for its rental fleet. Tesla only produced about half a million cars in all of 2020. The Model 3 sells for about $40,000. The Hertz purchase will broaden public awareness of Tesla’s vehicles, enhancing its chances to become a mass-market brand rather than a virtue-signaling indulgence of the affluent.
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