Hertz: Mammoth order of 4,4 million dollars for 100,000 Tesla cars

Hertz, announced its largest order from Tesla, the rental car company, and its plans to go green and create the largest EV rental fleet in North America. 

The company joined the elite club of high value companies such as Apple, Microsoft, Amazon and Alphabet since its share price touched a new all time high of 998.74 dollars while its market cap reached 1 trillion dollars. 

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest.Hertz will 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,” said Hertz CEO Mark Fields.

Consumers demand for electric vehicles is quite high since many of them have stated that they are likely to buy an electric vehicle the next time they are in the market for a new vehicle.

The flagship Tesla Model 3, a 4-door sedan that features up to 260-mile driving range on a full charge, will be available to purchase from Hertz outlets across the US and Europe. The car sells for 44,000 dollars making Hertz’s order worth an estimated 4.4 billion dollars assuming the Model 3 was ordered.

While Hertz hopes its order will be filled by the end of 2022, Tesla has built up a backlog of unfilled orders amid global supply chain issues. Despite ongoing challenges Tesla delivered a record 241,300 electric cars globally in the third quarter of the year.

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