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Tesla’s inventory jumps to another record after Hertz plans to buy 100,000 Tesla EVs

Tesla shares soared towards another record on Monday after Hertz Global Holdings announced plans to order 100,000 Tesla electric vehicles as part of its goal of providing North America’s largest EV rental vehicle. ..

Hertz said there will be a total of 100,000 Tesla “first” orders by the end of 2022. The car rental company also said it will invest in new EV charging infrastructure throughout its global business.

Initial order Bloomberg reports last Friday..

Tesla stock
TSLA,
+ 1.75%

Pre-market transactions rose 4.2%. It has risen 5.1% in the last two days and closed on a continuous record. It rose 7.9% last week, marking the ninth consecutive rise in the week. This is the longest winning streak since the 12-week streak that ended in February 2020.

Hearts stock
HTZZ,
-3.37%
,
Which one Emerged from bankruptcy on June 30, Up 6.5% prior to its opening on Monday.

“Hertz is in the early stages of electrification of car rental companies, but Tesla’s acquisition of orders of this size is underway in our opinion as part of this looming green tsunami that is currently hitting the United States. It highlights the widespread adoption of EVs by analyst Dan Ives. A note to the client. “The Hearts deal is Tesla’s” main feather of the cap “and tells us where the demand for EV transformation is heading, which will hit the global automotive sector. “

Ives rates Tesla outperforming with a $ 1,100 share price target.

Hearts said he is working with Tom Brady to headline the EV campaign.

“Electric vehicles are now mainstream and we are just beginning to see growing global demand and interest,” he said. Hearts Interim CEO Mark Fields.. “The new Hertz will pave the way for a mobility company with a commitment to start with the largest EV rental fleet in North America, expand the EV fleet and provide the best rental and charging experience for leisure and business customers around the world. is. “

According to Hearts, customers will be able to rent a Tesla Model 3 in specific locations from early November and will expand until the end of the year. The company also has chargers installed throughout its network, giving EV renters access to 3,000 turbocharged stations in the United States and Europe.

Tesla’s share price surged 41.4% each year until Friday, Hearts’ share price rose 47.2%, and the S & P 500 index also rose.
SPX,
-0.11%

It has increased by 3.0%.

Tesla’s inventory jumps to another record after Hertz plans to buy 100,000 Tesla EVs

Source link Tesla’s inventory jumps to another record after Hertz plans to buy 100,000 Tesla EVs

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