(NEW YORK) – Car rental giant Hertz has announced it is purchasing 100,000 Tesla electric vehicles which will be available to customers from next month.
Tesla stock skyrocketed at the news of the massive order, and its market cap hit the $ 1 trillion mark on intraday trading on Monday, a feat very few U.S. companies have achieved.
The announcement also comes just months after Hertz emerged from bankruptcy, after the COVID-19 pandemic ravaged the travel and car rental industry in 2020.
In addition to the initial order for 100,000 Teslas by the end of 2022, Hertz also announced the addition of new electric vehicle charging infrastructure at the forefront of its global operations.
Starting in early November, the company said customers will be able to rent a Tesla Model 3 at Hertz Airport and around major US markets and some cities in Europe. It will offer digital advice to educate customers about electric vehicles and soon hopes to offer an accelerated electric vehicle rental booking process through its app.
“Electric vehicles are now commonplace, and we are just starting to see an increase in demand and interest globally,” Hertz interim CEO Mark Fields said in a statement on Monday.
âThe new Hertz will lead the way as a mobility company, starting with the largest rental fleet of electric vehicles in North America and a commitment to grow our fleet of electric vehicles and deliver the best rental experience. and recharge to leisure and business customers around the world, âFields added.
The company said it was the first US car rental company to introduce electric vehicles to its rental fleet in 2011, and with the current order, electric vehicles will make up more than 20% of Hertz’s global fleet. .
Hertz is teaming up with seven-time Super Bowl champion Tom Brady for an ad campaign for its new fleet of electric vehicles.
âAlthough the company has been around for over 100 years, their constant evolution, especially now, is something that’s amazing to be a part of,â Brady said in a statement. âI have been driving an electric vehicle for years and knowing that Hertz is leading the way with its electric fleet shows how the world is changing and the way companies are approaching the environment and society. I have always liked the ease and convenience of Hertz. does it for me when I travel to my favorite places like New York, LA and Tampa and I can’t wait to see what they keep in store for me. “
This decision comes amid increasing pressure on the private sector and beyond to act against climate change. The transportation sector generated the largest share of greenhouse gas emissions in 2019, according to the U.S. Environmental Protection Agency, primarily by burning fossil fuels for cars, trucks, ships, vehicles, and vehicles. trains and planes.
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