• Tesla Surpasses $1 Trillion Value After Hertz Orders 100,000 Of Its EVs

  • The model that will initially be available for rent will be the Tesla Model 3, and it will be available as soon as early November at various Hertz airports and neighborhoods in major U.S. locations as well as select European cities.
  • Charging also shouldn’t be an issue for Hertz’s customers, because they will also have access to 3,000 Tesla supercharging stations in the U.S. and Europe, and this is on top of a combination of Level 2 and DC chargers that Hertz will through its location
  • To promote Hertz’s brand spanking new fleet of Teslas, the company collaborated with seven-time Super Bowl champion and entrepreneur Tom Brady to showcase how it is "making EV rentals fast, seamless and more accessible".
  • Swipe up to know more about the massive $4.2 billion deal that Hertz is undertaking

Tesla joins an elite group of trillion dollar companies such as Amazon, Apple and Facebook as Hertz announces order for 100,000 Teslas

Rental car company Hertz was in pretty bad shape in 2020, but things have now turned for the better. The company exited bankruptcy earlier this year, and thanks to a massive order of 100,000 Teslas, both companies stock prices soared, pushing Tesla’s company value at more than $1 trillion.

Hertz says that its "initial order" of 100,000 Teslas by 2022 puts the company on track to become one of the largest players in the electric vehicle (EV) rental space. The deal is estimated to be worth $4.2 billion according to Bloomberg, and this will pave the way for Hertz to have "the largest EV rental fleet in North America and one of the largest in the world".

Tesla Surpasses $1 Trillion Value After Hertz Orders 100,000 Of Its EVs
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The model that will initially be available for rent will be the Tesla Model 3, and it will be available as soon as early November at various Hertz airports and neighborhoods in major U.S. locations as well as select European cities. Hertz expects that its fleet of Teslas will be available in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023.

Unfortunately, Hertz also says that this expansion timeline does not consider factors that are beyond the company’s control, such as the ongoing semiconductor shortage and other constraints.

Tesla Surpasses $1 Trillion Value After Hertz Orders 100,000 Of Its EVs
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Charging also shouldn’t be an issue for Hertz’s customers, because they will also have access to 3,000 Tesla supercharging stations in the U.S. and Europe. Additionally, Hertz will also install "thousands of chargers throughout its location network", which will be composed of a mix of Level 2 and DC fast chargers.

Tesla Surpasses $1 Trillion Value After Hertz Orders 100,000 Of Its EVs
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With this massive order, 20 percent of Hertz’s fleet is now composed of EVs whilst also benefitting from the low maintenance costs that are only possible in a vehicle without an internal combustion engine (ICE).

As the news broke out, the share prices of both companies increased on Monday. Tesla’s stock value, in particular, closed at $1,024.86, which represents a massive 12.66 percent gain. This pushed the company’s value past the $1 trillion mark, and it’s also the first time that the company’s stock prices went past $1,000.

Tesla Surpasses $1 Trillion Value After Hertz Orders 100,000 Of Its EVs
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To promote Hertz’s brand spanking new fleet of Teslas, the company collaborated with seven-time Super Bowl champion and entrepreneur Tom Brady, to showcase how it is "making EV rentals fast, seamless and more accessible".

Isaac Atienza
About the author

ESTERO, Fla., Oct. 25, 2021 — As consumer interest in electric vehicles (EV) skyrockets, Hertz today is announcing a significant investment to offer the largest EV rental fleet in North America and one of the largest in the world. This includes an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across the company’s global operations.

In addition, Hertz is teaming up with seven-time Super Bowl champion and entrepreneur Tom Brady to showcase how it is making EV rentals fast, seamless and more accessible, as the company accelerates its commitment to lead the future of mobility and travel.

"Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest," said Hertz interim CEO Mark Fields. "The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world."

Today, 40 percent of U.S. consumers say they are likely to consider an electric vehicle the next time they are in the market for a new vehicle, according to Pew. Global EV sales skyrocketed 200 percent in the last year and will likely continue to grow with commitments from global automakers to increase EV sales. For example, in August, three U.S. automakers pledged to boost EV sales to 40-50 percent by 2030.

The growth is powered by electric vehicles’ high efficiency, positive user experience and climate change benefits – coupled with battery breakthroughs and rapidly expanding charging networks. EV drivers also benefit from lower maintenance and fuel costs.

Beginning in early November and expanding through year end, 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. To learn more, visit hertz.com/ev.

Hertz also is installing thousands of chargers throughout its location network. Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations throughout the U.S. and Europe.

Hertz will offer a premium and differentiated rental experience for the Tesla EVs. This includes digitized guidance to educate customers about the electric vehicle to get them on their way quickly, and coming soon, an expedited EV rental booking process through the Hertz mobile app.

With the current order, EVs will comprise more than 20 percent of Hertz global fleet and is expected to be supported by a combination of Level 2 and DC fast charging in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023. Hertz said these ambitions could be affected by factors outside of Hertz’s control, such as semiconductor chip shortages or other constraints.

"Hertz, Let’s Go!" with Tom Brady

To spread the word about its leadership on EV rentals, Hertz is partnering with seven-time Super Bowl champion Tom Brady for a new "Hertz, Let’s Go!" campaign.

Two new ads – "Plugged In" and "Speed" – beginning today show Brady renting, recharging and using an EV at a Hertz airport location. The spots use humor and Brady’s signature "Let’s Go" game-day rallying cry to underscore Hertz’s reputation for excellence, speed and ease throughout the travel experience.

"Hertz is changing the game when it comes to the future of mobility and has come through for me time and time again," said Tom Brady. "Although the company has been around for over 100 years, their constant evolution, especially now, is something that is amazing to be a part of. I’ve been driving an EV for years and knowing Hertz is leading the way with their electric fleet speaks to how the world is changing and the way companies are approaching being environmentally and socially conscious. I’ve always loved how easy and convenient Hertz makes it for me when I’m traveling to my favorite places like New York, LA and Tampa and can’t wait to see what they continue to have in store."

The New Hertz

Hertz is combining its brand strength and global fleet management expertise with new technology and innovations to chart a dynamic, new course for travel, mobility and the auto industry. The company’s commitment to becoming an essential component of the modern mobility ecosystem includes Hertz leading in electrification, shared mobility and a digital-first customer experience.

Today’s investment in electric vehicles builds on Hertz’s pioneering work in its rental operations during the past decade. Hertz was the first U.S. car rental company to introduce EVs to its rental fleet in 2011 and the first to implement a wireless charging system for electric vehicles. The company also is the exclusive rental car member of the Corporate Electric Vehicle Alliance, a consortium of companies focused on accelerating the transition to electric vehicles.

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