Tesla is doing the impossible. They’re surpassing $1 trillion dollars in marketplace value. Already, their stock price has been able to double more than enough in the past year. The thing about Tesla is that they’re unstoppable. They plan to join Apple, Microsoft, Facebook, Amazon, and Google’s folks, Alphabet as the all-time reigning champs of the tech industry. But now, they’re shifting gears into a whole new market. And it’s all thanks to Hertz.
Hertz is buying about 100,000 Teslas.
Yes, you read that right. It’s all part of an effort to give Hertz drivers the ability to choose from battery-powered options on rental lots. Starting in November, Hertz customers are going to have the opportunity to rent out Tesla Model 3s all across the United States, as well as in some European cities. And that’s just amazing.
When you think about it, this is a strong move for Tesla as well. Since the deal has been made, Musk’s auto manufacturing company has seen a stock surge of 7% in Monday morning trading. This therefore lifts the shares to an intra-day high of $979.80. Such an order shows a chunk of Tesla using their annual production volume to grow within recent years. Of course, this is also thanks to Tesla’s hustling that made this such a lucrative deal for Hertz to get in on.
Just in the last year, the electric car producer created 509,000 units, to distribute all around the world. Those numbers are likely to only get bigger as Tesla plans to create two new factories within this year. It’s aimed at delivering 900,000 vehicles before 2021 wraps up. This is to say 2022 will see a forecast of 1.4 million Teslas being made then. This means Hertz will have their hands full for sure. This is definitely a positive development.