By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
EveryTechEverEveryTechEver
  • News
    NewsShow More
    Globe 5G network expands to 237 sites in VisMin
    2 Min Read
    Samsung shares its connected device vision at CES 2023
    10 Min Read
    Kyndryl Reveals Eight Tech Trends to Watch in 2023
    6 Min Read
    Globe and SM Advantage Card (SMAC) #UniteVsHunger
    3 Min Read
    Globe 5G unleashes gamers’ potential in ESGS 2022
    4 Min Read
  • Tech
    • Mobile
    • Computing
    • Auto
    • Cybersecurity
    • FinTech
  • Gaming
    GamingShow More
    Predator Gaming partners with Blacklist International
    2 Min Read
    Predator x Blacklist Dota 2 Team is Here
    4 Min Read
    RAZER launches the new RAZER NAGA V2 PRO
    7 Min Read
    Acer’s Asia Pacific Predator League 2022 Concludes
    4 Min Read
    Philippine Teams Dominate Predator League 2022 Championship
    4 Min Read
  • Lifestyle
    • Entertainment
    • Shopping
    • Appliances
    • Wellness
  • How-To
  • Reviews
    ReviewsShow More
    Razer Leviathan V2 X: Great budget gaming soundbar
    HONOR X9a 5G Review: Toughest OLED Curved Screen Phone
    realme 10 Review: The new midrange king
    HUAWEI nova Y61: Best value phone for the holidays
    vivo Y16 Review: More storage ’cause Memory is Priceless
  • About Us
    • Contact Us
Search
  • Contact
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Hertz orders 100,000 Teslas reportedly worth $4.2 billion
Share
Sign In
Notification Show More
Latest News
The new Samsung Galaxy S23 Series is now official
Mobile
Razer Leviathan V2 X: Great budget gaming soundbar
Accessories Reviews
Get productive with realme and Logitech this new year
Mobile
Smartphones that have changed the way we shoot videos
Features Mobile
HONOR X9a 5G now available in PH, priced at Php 16,990
Mobile
Aa
EveryTechEverEveryTechEver
Aa
  • News
  • Tech
  • Gaming
  • Lifestyle
  • How-To
  • Reviews
  • About Us
Search
  • News
  • Tech
    • Mobile
    • Computing
    • Auto
    • Cybersecurity
    • FinTech
  • Gaming
  • Lifestyle
    • Entertainment
    • Shopping
    • Appliances
    • Wellness
  • How-To
  • Reviews
  • About Us
    • Contact Us
Have an existing account? Sign In
Follow US
  • Contact
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
EveryTechEver > Blog > Lifestyle > Auto > Hertz orders 100,000 Teslas reportedly worth $4.2 billion
Auto

Hertz orders 100,000 Teslas reportedly worth $4.2 billion

RV Cuarto
Last updated: 2021/10/26 at 2:09 AM
RV Cuarto
Share
SHARE

Today has been a double dose of excellent news for Tesla in terms of sales. According to Bloomberg, Hertz has bought 100,000 Tesla electric vehicles for its fleet, with intentions to begin renting them out in major US cities and parts of Europe in November. That would be the world’s largest electric vehicle order, as well as Hertz’s first foray into electric car rentals.

According to the article, the order is worth $4.2 billion for the fleet (which appears to include Model 3s). It’s approximately a tenth of what Tesla can make in a year, potentially allowing Hertz to keep out rival rental companies. It apparently spent roughly the entire list price for each unit and chose well-equipped models rather than base model variants.

hertz

Customers of Hertz will be able to use Tesla’s supercharger network, and Hertz is also rumored to be developing its own charging infrastructure. Hertz (which also owns the Dollar, Thrifty, and Firefly brands) intends to make its half-million-vehicle fleet nearly entirely electric in the future.

Given that Hertz declared bankruptcy in 2020 and only emerged in June of this year, this is a remarkable recovery. It was bought out of bankruptcy for $6 billion by distressed debt firm Knighthead Capital Management (among others). However, following a significant market turnaround, it is now valued at $11.6 billion ahead of relisting on Nasdaq, according to Bloomberg.

But that’s only half of the good news for Tesla. According to automotive analyst JATO, the company’s Model 3 was the best-selling car in Europe in September, with about 24,600 registered units, marking the first time that an EV has led the monthly standings. It’s also the first time a vehicle from outside the EU has taken the top spot in sales. Tesla’s sales increased by 58 percent year over year, while overall EV/PHEV sales increased by 23 percent from 2020.

The news is significant for Tesla and the electric vehicle industry as a whole, as it demonstrates that EV sales in Europe are continuing to rise. Large tax refunds and trade-in incentives for internal combustion engine (ICE) automobiles have contributed significantly to this. According to JATO, September was Tesla’s best month, accounting for 74% of the company’s third-quarter volume.

Nonetheless, due to a global chip shortage, the automobile industry as a whole has suffered in Europe and abroad. According to Reuters, Renault has stated that due to a global semiconductor shortage, it will build at least 300,000 fewer vehicles this year.

You Might Also Like

Aisin unveils a new marketing campaign in the Philippines

AutoDeal steers PHL Automotive E-Commerce with 13th Insights Report

Elon Musk accuses the SEC of information leakage

Audi is bringing 5G connection to its vehicles in 2024

Zoomcar is now officially servicing the Philippines

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook Twitter Copy Link Print
Share
By RV Cuarto
Follow:
RV Cuarto is the founder and editor-in-chief of EveryTechEver, a startup team of writers and researchers. He started in tech journalism in the early days of 2012 as the founder of the successful tech site Nokia Revolution. His belt of experience spans across the industry, from consumer electronics, data operations, and cloud computing, with several brands including Dell, Nokia, Realme, and Huawei. He is also an HIV advocate and a public speaker. He spends his free time singing, playing mobile games, and experimenting with new recipes in his kitchen. Follow him on Tiktok.
Previous Article Netflix employees walkout to protest against Dave Chappelle
Next Article Halo Infinite’s massive campaign trailer shows off
Leave a comment

Leave a Reply Cancel reply

Stay Connected

248.1k Like
69.1k Follow
134k Pin
54.3k Follow
banner banner
Create an Amazing Newspaper
Discover thousands of options, easy to customize layouts, one-click to import demo and much more.
Learn More

Latest News

The new Samsung Galaxy S23 Series is now official
Mobile
Razer Leviathan V2 X: Great budget gaming soundbar
Get productive with realme and Logitech this new year
Mobile
Smartphones that have changed the way we shoot videos
Features Mobile
//

Your daily source of everything tech.

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Follow US

© 2022 EveryTechEver. Your daily source of everything tech. All Rights Reserved.

  • Privacy Policy
  • Terms of Service
  • Contact Us
Join us, Techies!

Subscribe to our newsletter and get your daily source of everything tech.

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
 

Loading Comments...
 

    Welcome Back!

    Sign in to your account

    Lost your password?