Hertz has ordered 100,000 Teslas as part of an ambitious plan to convert its fleet to electric cars. Tesla’s Model 3 sedans will be available for rent from Hertz in several major US and European cities starting in early November, according to the firm. Just months after narrowly avoiding bankruptcy, Hertz has announced another milestone.
Tesla’s stock price increased to as high as $998.74 in the early hours of the day, raising its market capitalization over $1 trillion before declining again. However, by the time trading closed for the day, Tesla’s value had risen again, closing at $1,024.86 per share for a market cap of $1.01 trillion. That made it one of only a few billion-dollar market cap firms like Apple, Amazon, and Microsoft according to CNBC.
Single largest order ever
The purchase was first reported by Bloomberg, which claims it is the automaker’s single largest order ever and worth $4.2 billion in sales to Tesla.
Tesla‘s network of 3,000 superchargers in the United States and Europe will be available to renters. According to Hertz, it is planning on adding “thousands” of its own dispersed throughout its location network to supplement these charging stations.
In a press statement, Hertz’s interim CEO Mark Fields said: “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest. The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world.”
To publicize the move, Hertz has launched a new ad campaign featuring Tom Brady.
GOAT’s recognize GOAT’s. Introducing our all new EV fleet (@TomBrady not included) #Hertz #LetsGo pic.twitter.com/TElSE2PDKb
— Hertz (@Hertz) October 25, 2021
