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Tesla Jumps 4% as Hertz Hands It Order for 100,000 EVs

Published 25/10/2021, 14:18
Updated 25/10/2021, 14:18
© Reuters.

© Reuters.

By Dhirendra Tripathi

Investing.com – Tesla stock (NASDAQ:TSLA) climbed more than 4% in Monday’s premarket as a revived Hertz gave the company an order for 100,000 electric vehicles.

Tesla's cheapest Model 3 sedan starts at about $44,000. Ignoring the discount that large, negotiated orders tend to come with, the order is worth $4.4 billion, making it the largest ever for the EV-maker.

The cars have to be delivered by December next year, according to a note by Hertz.

Tesla shares also got a boost from news of Tesla’s Model 3 becoming the first electrical vehicle to top monthly sales of new cars in Europe.

Customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in U.S. major markets and select cities in Europe.

Hertz is installing thousands of chargers, and customers who rent Model 3 will have access to 3,000 Tesla supercharging stations throughout the U.S. and Europe.

Hertz filed for bankruptcy protection last year. It was rescued by a group of investors including Knighthead Capital Management, Certares Opportunities and Apollo Capital Management.

Latest comments

when decision makers user Zoom, lesser business trips. Hertz doesn't had enough money to buy 100.000 cars even with 50% discount.
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