Hertz to invest in new EV charging infrastructure as it electrifies its fleet

Tesla Inc.’s valuation shot past $1 trillion on Monday, with the stock closing at a record high, after Hertz Global Holdings Inc. announced plans to order 100,000 Tesla vehicles and a Morgan Stanley analyst raised his forecast for sales and production.

Tesla’s stock TSLA, +12.66% rallied more than 12% to end at $1,024.86, boosting the electric-car maker valuation to $1.01 trillion.