Tesla's market value has soared above the $1 trillion mark.

Tesla

Tesla

The electric carmaker became the fifth company in history to reach the landmark earlier this week, with its share price rising markedly after Tesla struck a deal to sell 100,000 vehicles to Hertz, the car rental firm.

After striking the deal, Hertz interim boss Mark Fields said: "Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest."

Tesla is of course the world's most valuable carmaker and in passing the $1 trillion mark, the company has followed in the footsteps of Apple, Microsoft, Amazon and Google-owner Alphabet.

Tesla is led by billionaire businessman Elon Musk and the recent spike in the company's share prise means that his stake in the firm is worth an eye-watering $230 billion.

Earlier this year, Elon actually warned consumers against buying Tesla vehicles during a "production ramp".

He said at the time: "It took us a while to kind of iron out the production process.

"Friends ask me: ‘When should I buy a Tesla?’ And I’m like: ‘Well, either buy it right at the beginning, or when the production reaches a steady state'.

"But during that production ramp, it’s super hard to be in vertical climb mode and get everything right on the little details."