The car rental company Hertz has made history by placing the single largest electric vehicle order ever. Worth $4.2 billion, the deal will see Tesla manufacturing and supplying 100,000 vehicles for the company, in a move that will see the automobiles distributed across Hertz' network in Europe and the United States.
Revealed in a press release by the car rental company, the deal will see Model 3 Teslas available to rent from Hertz starting from early November, with the initial 100,000 units fulfilled by the end of 2022. It will also see Hertz' network expanded with a range of EV charging infrastructure also being implemented.
"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."
As noticed by The Verge, this deal has also seen Tesla's stock price rise exponentially, seeing the company's market cap reach over $1 trillion, putting it in the same margin as tech giants such as Microsoft and Apple.