Tesla drives toward $1 trillion club on record Hertz order

FILE PHOTO: The desk of car rental company Hertz is seen at Nice International airport during the coronavirus disease (COVID-19) outbreak in Nice, France, May 27, 2020. REUTERS/Eric Gaillard

(Reuters) - Tesla Inc on Monday neared $1 trillion in market capitalization as the company founded by Elon Musk received its biggest-ever order — 100,000 electric rental cars for Hertz.

Tesla shares were up 7.5% at $978, hitting a new record high Monday, following the order. Shares were also buoyed by news of the company's Model 3 becoming the first electric vehicle to top monthly sales of new cars in Europe.