Hertz & Tesla – Deal or no deal?

Last week Hertz announced a deal to buy 100,000 Tesla Model 3s. The company also announced it would be investing in EV infrastructure, giving customers access to 3,000 Tesla supercharging stations throughout the U.S and Europe. 

During the height of the pandemic, when demand for rental cars had plummeted Hertz filed for bankruptcy protection. The announcement signals the recovery of the travel market, but also Hertz’s commitment to a new greener business model, raising the bar for all car rental companies. 

When the deal was announced Tesla’s shares climbed 13% making it one of only five publicly traded U.S. companies with valuations above $1 trillion.

This morning there seems to be some confusion around the progress of the deal: https://www.cnbc.com/2021/11/02/elon-musk-says-tesla-has-not-signed-contract-with-hertz-yet.html  (Elon Musk says Tesla has not signed contract with Hertz yet). However, the interest in the Hertz/Tesla partnership (from both customers & investors), clearly signifies a more mainstream adoption of EVs and we can all expect continued rapid growth in the electric car market.