Hertz Orders 100,000 Tesla Vehicles

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Car rental agency Hertz said on Monday, Ordered 100,000 Teslaa sign of increasing momentum in the transition to electric vehicles. The order, which is expected to be delivered by the end of next year, will give Hertz one of the world’s largest rental fleets of electric vehicles.

Hertz, which Out of bankruptcy in the summersays it’s teamed up with football quarterback Tom Brady to promote its EV offerings.

“Electric vehicles are now mainstream and we are starting to see increasing global demand and interest,” Mark Fields, Hertz’s interim CEO, said in a news release. “New Hertz will lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to growing our EV fleet and providing the best rental and charging experience for leisure and business customers worldwide. ”

The company did not disclose the value of the deal. Reporting the news before the announcement, Bloomberg suggested that the order would generate approximately $4.2 billion in revenue for Tesla, with Hertz paying close to par for the vehicles. Car rental companies often ask for deep discounts for large car orders.

Hertz customers will be able to rent a Tesla Model 3 in some major markets in the United States and Europe from early November. The company also said it plans to install thousands of chargers at its locations.

The company said that following the Tesla order, electric vehicles will make up more than 20 percent of Hertz’s global vehicle fleet.

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