The EV giant Tesla Inc breached the trillion dollars mark in market capitalization on Monday making it the fifth U.S. company to join the club alongside Apple, Microsoft, Amazon and Alphabet.

Tesla shares surged as much as 14.9% to reach $1,045.02 per share making it the world’s most valuable automaker according to the reports calculated by Reuters based on it latest filing.

The surge came after Hertz on Monday said it has ordered 100,000 Tesla vehicles which are worth $4.2 billion as part of an ambitious plan to electrify its fleet. As a part of the deal the rental firm will also build a network of charging stations.

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” Hertz interim Chief Executive Officer Mark Fields told Reuters.

Following the jump in the share price, the CEO Elon Musk who has  23% stake in the business is now worth around $230 billion. As the deal, customers will be able to rent a Tesla Model 3 at Hertz airport and its vicinity in US market and some selected cities in Europe from November onwards.

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