Hertz orders 100,000 Tesla Model 3 cars for its rental fleet 

Tesla has announced that it has received a huge order for 100,000 Tesla Model 3 cars from Hertz Global Holdings Inc which is a huge first step toward electrifying its rental-car fleet and in the process mainstreaming EVs. Read further to know more about Hertz orders 100,000 Tesla Model 3 cars. 

The company joins trillion-dollar market cap companies like Apple, Amazon and Microsoft. It represents around $4.2 billion in revenue for Tesla. Tesla shares surged as much as 14.9 per cent to $1,045.02, making it the world’s most valuable automaker.

Elon Musk said that “Strange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem.” Tesla and Hertz’s decision to order 100,000 Tesla vehicles by the end of 2022 showed electric vehicles are no longer a niche product but will dominate the mass car market in the near future. Electric vehicles are now mainstream and we have just started to see the growth in global demand and interest said Hertz interim Chief Executive Officer Mark Fields.

The cars are slated for delivery within the next 14 months and will be available to customers in the U.S. and parts of Europe as early as November. Tesla Model 3 has topped European car sales in September according to the research group JATO Dynamics. It said that is the first time an electric vehicle has done very well in monthly charts.

Tesla’s Model Y sales have also topped in August with 790 registrations within less than a week since its arrival. Tesla had started its Model Y invasion in Europe with its first deliveries in several EU territories, including Germany, Belgium, and Norway.

The Tesla Model 3 had reached 1,031,588 worldwide deliveries at the end of the 2nd quarter of 2021. The Model 3 is the first electric car to pass 1 million cumulative sales. Whereas the Tesla Model Y had 250,000 cumulative sales in July and it may reach 500,000 by the end of the year.

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