Car rental company Hertz orders 100,000 Teslas

Tesla Model 3

Car rental company Hertz has, according to news agency Bloomberg placed a mega order with Tesla. It is said to have ordered as many as 100,000 cars.

Hertz’s order would account for $4.2 billion in sales for Tesla, or $3.6 billion. It would be Tesla’s Model 3, although it cannot be ruled out that Models Y will also be added. Significant discounts are often negotiated by car rental companies for large orders, but Hertz now appears to be largely paying list prices for the vehicles. According to the insiders, the cars should be delivered within the next fourteen months and will be driven in the United States and parts of Europe.

Hertz came out of bankruptcy earlier this year. The new owners are said to have plans to virtually completely electrify Hertz’s global fleet of approximately half a million vehicles. Former Ford CEO Mark Fields recently became Hertz’s interim CEO.

The huge order is obviously good news for Tesla and that is also immediately rewarded on the stock market. Tesla immediately opened 5 percent higher on Wall Street on Monday.

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