This is huge!
Rental car giant Hertz has just announced that they have agreed to buy 100,000 electric vehicles from Elon Musk’s Telsa.
According to the Washington Examiner, Hertz announced that Tesla is expected to deliver the vehicles to them by the end of next year and will soon after be available to customers for rent. Hertz also noted that they will be creating a whole new new electric vehicle charging infrastructure for company operations.
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.”
The one time purchase of 100,000 vehicles is expected to cost Hertz around $4.2 billion meaning they are likely paying list price for the entire fleet with little to no markdown for the bulk purchase.
Tesla’s stock soars to $1,000/share for the first time.🚨 The company hit a $1 trillion market cap earlier today after Hertz said it would buy 100,000 electric vehicles. @Lebeaucarnews has the details. https://t.co/NrLpOXma6u pic.twitter.com/UaG0zc3JTF
— CNBC (@CNBC) October 25, 2021