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Oct 25 - Hertz Orders 100K Teslas For $4.2B, Tesla Cracks $1T Market Value



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 1 month ago '07        #1
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yola  topics gone triple plat - Number 1 spot x63
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Oct 25 - Hertz Orders 100K Teslas For $4.2B, Tesla Cracks $1T Market Value
 

 

It’s the single largest order of electric vehicles

Rental car company Hertz has ordered 100,000 Teslas as part of an ambitious plan to electrify its fleet.

A first tranche of Tesla’s Model 3 sedans will be available to rent from Hertz in major US and European markets from early November, said the company in a press statement.

The announcement comes just months after Hertz escaped bankruptcy.

After the purchase was announced, Tesla’s stock price reached as high as $998.74, increasing its market cap to over $1 trillion before the price dropped again.

As CNBC notes, that put it in the rare company of other trillion-dollar market cap companies like Apple, Amazon, and Microsoft.

News of the purchase was first reported by Bloomberg, which says the deal is the single largest order ever for electric vehicles, and worth $4.2 billion in revenue to Tesla.

The automaker’s stock was up 4.3 percent on the news in pre-market trading. It was also reported this morning that Tesla’s Model 3 became the first electric vehicle to top monthly sales charts in Europe this September.

Earlier this month, the company reported record sales in its third quarter, despite chip shortages denting the automotive market.

IT’S BEEN A VERY GOOD MONTH FOR TESLA

Anyone renting a Tesla from Hertz will be able to use the automaker’s network of 3,000 superchargers across the US and Europe.

Hertz says it’s planing on supplementing these chargers with “thousands” of its own, dispersed “throughout its location network.”

Hertz went into bankruptcy in May last year after the car rental market was hit hard by the pandemic.

The company, which is more than a hundred years old, was eventually re-financed to the tune of $5.9 billion by investors led by Knighthead Capital Management and Certares Management.

According to Bloomberg, Hertz now plans to electrify nearly all of its roughly 500,000 cars and vans, with the Tesla order comprising a significant first chunk.

In a press statement, Hertz’s interim CEO Mark Fields said:

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

To publicize the move, Hertz has launched a new ad campaign featuring Tom Brady.
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 1 month ago '04        #2
Fresh Beats 
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Makes sense. Safer cars with less maintenance. That should allow them to have more time on the road.
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 1 month ago '17        #3
Jjsmoothbigtime 
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How many cars can Tesla produce in a year? I looked at getting one and they don’t have any available until summer 2022. Seems like that wait will get longer if they have to deliver 100K cars in 14 months.
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 1 month ago '15        #4
satsuma  topics gone triple plat - Number 1 spot x1
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Well, Kathie Wood just made a ish-ton of money.
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 1 month ago '17        #5
Its 
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100k sheesh
A bunch of new ppl are about to find out that teslas are shoddily made lml

And opening those charging locations could be big long term. Think imma jump back in bed with that sh*tty hertz stock lol

 1 month ago '14        #6
freezetag 
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 Its said
100k sheesh
A bunch of new ppl are about to find out that teslas are shoddily made lml

And opening those charging locations could be big long term. Think imma jump back in bed with that sh*tty hertz stock lol
Explain the shoddily made telsa?

Curious bc I’m entertaining getting one
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 1 month ago '04        #7
deziking  topics gone triple plat - Number 1 spot x4
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 Jjsmoothbigtime said
How many cars can Tesla produce in a year? I looked at getting one and they don’t have any available until summer 2022. Seems like that wait will get longer if they have to deliver 100K cars in 14 months.
oh they wont see it till 2024 or so.
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 1 month ago '04        #8
young_fletch 
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S/O HERTZ they took me to new tax bracket this year. 700% return.
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 1 month ago '04        #9
killadre  topics gone triple plat - Number 1 spot x2
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Wait wasn’t they just going bankrupt
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 1 month ago '04        #10
ItAlY2BkLyN 
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100k Teslas = +$100B valuation



 1 month ago '19        #11
SlimKenobi 
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 freezetag said
Explain the shoddily made telsa?

Curious bc I’m entertaining getting one
I’ve seen videos about quality control issues that do eventually get fixed but can take awhile and the materials not feeling “luxury”. Still wouldn’t stop me from getting one.
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 1 month ago '20        #12
Xiox  topics gone triple plat - Number 1 spot x1
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I wish California & NY forced all vehicle rentals to go electric with incentives
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 1 month ago '17        #13
Its 
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 freezetag said
Explain the shoddily made telsa?

Curious bc I’m entertaining getting one
Quality control sh*t...
Manufacturing cars is an extremely difficult thing to do. We all kinda take that for granted. Building a brand new one from the ground up is a herculean task, and the first few years of those cars have had some wild sh*t. A partner of mine bought a 12 that leaked inside when it rained lol. This was YEARS ago, but he wasn't alone...
Another partner of mine had issues with 2 newer ones as well. From what I've seen, corners have been cut with them in the past, so do your diligence.
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 1 month ago '16        #14
J0011 
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There’s a charging station I go bye everyday, and at last once a week it’s being worked on. I’ll keep burning gas.
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 1 month ago '07        #15
yola  topics gone triple plat - Number 1 spot x63 OP
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 Fresh Beats said
Makes sense. Safer cars with less maintenance.
where's the proof of this?

i mean, i know it's what Elon and co chant, but is it backed up by anything?


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 1 month ago '04        #16
Fresh Beats 
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 yola said
where's the proof of this?

i mean, i know it's what Elon and co chant, but is it backed up by anything?


I was talking about the safety rating. Autopilot will be another bonus as well once that is fully off the ground. Just having the cameras to detect vandalism is a win.

 1 month ago '07        #17
yola  topics gone triple plat - Number 1 spot x63 OP
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 Fresh Beats said
I was talking about the safety rating.
me too, can you source their superior rating from an independent, objective company?

 1 month ago '04        #18
Fresh Beats 
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 yola said
me too, can you source their superior rating from an independent, objective company?
Nah, I don't care that much lol. I just saw a few of them post accident and they seem hold up well compared to the other cars (unless the battery catches on fire).

 1 month ago '07        #19
yola  topics gone triple plat - Number 1 spot x63 OP
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 Fresh Beats said
Nah, I don't care that much lol. I just saw a few of them post accident and they seem hold up well compared to the other cars (unless the battery catches on fire).
you saw a few and they seem to hold up well



that doesn't sound like the criteria or methodology that the Insurance Institute for Highway Safety or The National Highway Traffic Safety Administration would use

but here you are creating a narrative for Tesla

 1 month ago '20        #20
Xiox  topics gone triple plat - Number 1 spot x1
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Will you be able to sync your phone to the tesla to monitor it

 1 month ago '20        #21
Xiox  topics gone triple plat - Number 1 spot x1
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Can tesla meet those orders

 1 month ago '04        #22
Fresh Beats 
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 yola said
you saw a few and they seem to hold up well



that doesn't sound like the criteria or methodology that the Insurance Institute for Highway Safety or The National Highway Traffic Safety Administration would use

but here you are creating a narrative for Tesla
I was initially talking about the 5 star crash test rating but I’m not going to research and see if they are 100% independent and unbiased (probably not). There’s not a ton of places testing cars for safety so that’s all most of use have to go off of.

 1 month ago '16        #23
J0011 
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 yola said
where's the proof of this?

i mean, i know it's what Elon and co chant, but is it backed up by anything?


fu*kers catch fire while charging in the gŕrage

 3 weeks ago '20        #24
Xiox  topics gone triple plat - Number 1 spot x1
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