Billion deal: car rental company Hertz orders 100,000 Teslas

Estero (dpa) – The US car rental company Hertz is investing billions in the expansion of its electric car fleet with a major order from Tesla.

Until the end 2022 are 100. 000 Tesla has been ordered, said Sixt’s rival on Monday in Estero, Florida. The financial news agency Bloomberg had previously reported on it, citing insiders, and named a purchase volume of around 4.2 billion US dollars (3.6 billion euros).

Hertz said they wanted because of the strong People’s interest in electric cars to build the largest electric car rental fleet in North America. From November, customers in the USA, but also in some European cities, will be able to book Tesla’s Model 3. In addition to the order, Hertz announced that it would install several thousand charging stations. “Electric cars are now mainstream,” said Hertz transition boss Mark Fields in a press release 20 percent rise. The purchase of the vehicles is the company’s first major initiative since bankruptcy proceedings closed in June. Hertz had applied for bankruptcy protection in the Corona crisis, but then quickly recovered.

Tesla is making strong gains

Tesla’s shares reacted with a price jump in the early US stock market trading of more than five percent on the bulk order. The market value of Tesla exceeded the one trillion dollar mark for the first time. Only a few companies like Apple, Amazon and Microsoft have managed this so far.

Star entrepreneur Elon Musk’s group is currently on a wave of great success anyway. Despite the global chip crisis and delivery problems, Tesla earned more in the most recent quarter than ever before in a quarter. In the three months to the end of September, profit rose 389 percent year-on-year to $ 1.6 billion, as Tesla announced last week. Revenue grew 57 percent to a record 13, $ 8 billion.

Tesla copes well with material shortages

Although the automotive industry as a whole has been groaning for months under the semiconductor shortage, shortage of containers as well as congestion at seaports and other bottlenecks in the supply chains, Tesla has been stuck with the strains so far relatively well away. In the third quarter, the company brought 241. 391 vehicles to its customers, around 73 percent more than a year earlier . Production in the three months was just under 240. 000 E-cars. The major Hertz order corresponds to around a tenth of Tesla’s current annual production capacity.

In order to be able to cope with the already high demand, which has now risen sharply due to the order, Tesla is dependent on rapid production in to be able to start and ramp up new plants such as Grünheide near Berlin or Austin, Texas. However, that should not be easy, in Germany Tesla still lacks the final approvals – the schedule has long been lagging behind due to bureaucratic discrepancies.

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