Hertz Has Revived Itself And Purchased 100,000 Teslas

Just last year, rental-car giant Hertz was filing bankruptcy, selling massive amounts of inventory just to stay afloat. It has managed to make a comeback however, and recently placed an order for 100,000 Teslas according to a Bloomberg report.

The Tesla Model 3 purchases are in an attempt to electrify its rental-car fleet. Starting next month customers will be able to rent one in major U.S. markets and parts of Europe. Hertz is also building its own charging infrastructure as well as utilizing Tesla’s network of superchargers for customers.

Hertz announced the news in a statement saying:

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

This is also impressive news for Tesla seeing as how the automaker’s third-quarter 2021 deliveries totaled 241,300 units, the Hertz order being just under half of that. After the news went public, Tesla stock was up 4.3 percent.