Tesla's market capitalization surpassed $1 trillion, the aggregate worth of the world's top five automakers

On Monday, Tesla Inc's market capitalization topped $1 trillion, surpassing the combined market capitalizations of Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co, and General Motors. This also makes Tesla the most valuable vehicle company in the world, despite selling far fewer cars than its competitors, some of whom sell nearly 10 million cars per year. Tesla, on the other hand, has been on track to sell about 500,000 cars in 2020, which is nowhere near the aggregate sales of the top five automakers.

Hertz, a rental car firm, has placed the company's largest-ever order of 100,000 cars, which will be delivered by the end of next year. Hertz's rental brand order is expected to be worth $ 4 billion, accounting for 20% of the company's total assets. Hertz has placed an order for all 1 lakh Tesla Model 3 cars.

The following is a list of the top 5 ICE (internal combustion engine) car brands in the world, along with their market capitalization as of the most recent close, in comparison to Tesla:

Tesla Inc - $1 trillion

Toyota Motor - $284.11 Billion

Volkswagen - $146.83 Billion

Daimler AG - $103.58 Billion

General Motor Co - $83.85 Billion

Ford Motor - $62.78 Billion

Toyota Motor Company led the global sales rankings with about 9.5 million units worldwide last year, followed by Volkswagen with 9.3 million units. Daimler, GM, and Ford are far behind, with fewer car sales but a larger market capitalization.

Tesla presently sells the Model 3, which is the company's entry-level electric vehicle, as well as the Model Y, which is more of a crossover, the Model S, and the Model X. Tesla is also working on getting the Cybertruck on the road as soon as possible.