Tesla Reportedly Sees 100,000 Vehicle Order From Hertz Global

Tesla Inc (NASDAQ: TSLA) is moving rather significantly in pre-market trading, jumping 4.40% to $949.68. The move follows a report by Bloomberg, which has indicated that Hertz Global Holdings, the recently restructured car rental agency, has placed a significant order with the company.

In total, the company is rumoured to have ordered 100,000 new Tesla’s as it looks to move to an electrified vehicle fleet. The sale is said to represent one of the single-largest purchases for electric vehicles ever, with Bloomberg pegging the size of the transaction at $4.2 billion.

Notably, the rumoured transaction price means Hertz has obtained minimal discounts from the transaction, with such large orders typically seeing heavy discounts from automakers.

Hertz is said to see the first initial deliveries next month, with the first Model 3’s being available for rent in major markets within the US as well as in some European centres. The arrangement will also see Hertz build its own network of chargers for the vehicles, in addition to the vehicles having access to Tesla’s charging network.

Tesla last traded at $949.68 in pre-market trading on the Nasdaq.

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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