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New York Stock Exchange, electric vehicle maker Tesla surpassed $1 trillion in market capitalization during the day. Tesla is the first electric car maker to be listed on the $1 trillion club.



Correspondent Kim A-young.



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Tesla, an electric vehicle maker led by Elon Musk, closed at $1,24.86 in the New York Stock Exchange, up 12.66% from yesterday (24th).



As the stock price rose sharply, Tesla's market capitalization soared to $1.1 trillion, or 1,183 trillion won in our money.



The $1 trillion market cap is a record held only by Apple, Amazon, and Microsoft, and Tesla is the first electric car maker to join the $1 trillion club.



Earlier, on the back of strong third-quarter earnings, Tesla rose to $910 in the middle of last week, making a new record, and today it broke the record again.



Tesla's stock price surge was a big boost as car rental company Hertz announced that it would purchase 100,000 Tesla Model 3 models by the end of next year.



Hertz emphasized that electric vehicles are becoming more and more mainstream in the car rental market, and that Tesla is the only manufacturer capable of mass-producing electric vehicles.



The contract amount was estimated to reach 4 billion dollars or 4.6 trillion won, which is the largest single electric vehicle purchase ever.



Morgan Stanley, an American investment bank, raised its target price to $1,200 while positively optimistic about Tesla's future earnings outlook.



New York stocks strengthened as earnings optimism from major companies, including Tesla, grew.