Following the information, Tesla shares rose more than 9.5% on Monday, to $ 995.75 per unit, reaching a new record level.
The actions were also supported by the news that the Model 3 became the first electric vehicle to dominate new car sales in Europe.
News of the order from Herz came as Tesla faces a list of unfulfilled orders for its vehicles and continuing supply chain problems, but the company is consolidating its appeal to its electric cars.
Hertz’s interim CEO Mark Fields told Reuters that the order will be primarily for Model 3 vehicles.
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Hertz customers will be able to rent a Tesla starting in November, and the company will have 3,000 charging points in 65 markets by the end of 2022, he added.
By the end of 2023, Fields said his company will have 4,000 chargers in 100 markets.
“We are convinced that this will be a competitive advantage for us. We want to be leaders in mobility … delivering the electric vehicle experience to our customers is an absolute priority for us, ”Fields said of the Tesla vehicle order, which is due to be delivered by the end of 2022.
Hertz, which requires customers to refuel gasoline cars on return or pay a fee, said customers will not have to return fully recharged Tesla cars for the time being.
Hertz has between 430,000 and 450,000 vehicles worldwide, said Fields, who added that Hertz will also work with other electric car manufacturers.
Tesla shares are expected to exceed $ 995.75 per unit for the carmaker to become a $ 1 trillion-valued company, according to the latest Reuters calculations.
The world’s most valuable carmaker will join an elite club, which includes Apple, Amazon.com), Microsoft and Alphabet.
Tesla delivered a record 241,300 electric cars globally in the third quarter, even as it warned that supply chain problems would press profit margins.
Tesla’s cheapest Model 3 car has a price starting at about $ 44,000, which makes this order worth about $ 4.4 billion, if the entire order were for this sedan.
Fields declined to say how much Hertz would pay for the order.
Tesla representatives were not immediately available for comment.
With the current order, Hertz said electric vehicles will account for more than 20% of its global fleet.
Fields cited the growing number of electric vehicles for sale and consumer interest in electrified vehicles.
“We want to be there early and quickly and take a leading position,” Fields said.
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