Billionaire Elon Musk-owned electric car company Tesla hit the $1 trillion market cap for the first time.

The rally came after the US-based rental car company Hertz on Monday said it has ordered 100,000 Tesla vehicles (worth at least $4.2 billion) by the end of 2022 as part of an ambitious plan to electrify its fleet.

The move includes a new EV charging infrastructure across the company’s global operations.

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Beginning in early November, customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in US major markets and select cities in Europe.

Hertz also is installing thousands of chargers throughout its location network.

Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations throughout the US and Europe, the company said.

Earlier, Tesla hiked prices for all four of its in-production vehicles.

The base Model 3 and Model Y electric vehicles are each priced $2,000 higher, at $43,990 and $56,990, respectively.

In addition, the base Model S and Model X vehicles will each cost $5,000 more, at $94,990 and $104,990, reports electrek.co.

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