Hertz Wants to Electrify Fleet, Starts with Order of 100,000 Teslas
If you often rent cars from Hertz, your next rental could be a Tesla. Hertz has ordered 100,000 Teslas as part of an ambitious plan to upgrade and electrify its fleet. The first batch of Teslas should be available to rent from Hertz in major US and European markets in early November.
The Hertz deal is the single largest order ever for electric vehicles. Bloomberg reports that it will bring $4.2. billion in revenue to Tesla. The news sent Tesla’s toward new record highs, up 6.8% today.
Anyone who rents a Tesla vehicle from Hertz will be able to use Tesla’s network of 3,000 superchargers across the US and Europe. Hertz says it’s planning to add similar superchargers of its own, dispersed throughout its location network.
“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Hertz’s interim CEO Mark Fields. “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.”
Hertz went into bankruptcy last year as the pandemic halted travel. The company eventually re-financed for $5.9 billion. Hertz now plans to electrify nearly all of its fleet of about 500,000 cars and vans.