Hertz Buying 100,000 Teslas in $4.2 Billion Deal, Making EVs 20 Percent of Its Fleet

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Hertz Buying 100,000 Teslas in $4.2 Billion Deal, Making EVs 20 Percent of Its Fleet

UPDATE 10/25/2021, 1:30 p.m.: Hertz’s purchase deal is for Tesla Model 3 cars, a Hertz spokesperson confirmed to Car and Driver, although the company expects to add “a variety of makes and models” in time as part of a strategy to dominate the EV-rental marketplace. When asked about rental cost for these newly acquired Teslas, the spokesperson told C/D that they will go for “a rate similar to our premium and luxury vehicles,” explaining that there will be a “differentiated and premium rental experience” involved in renting a Model 3 from Hertz. The spokesperson also said customers can return the EVs not fully recharged “for now,” a difference from the rules for returning gasoline-powered vehicles. The spokesperson listed what cities will get Tesla Model 3 rental cars by the end of 2021; the list can be found at the end of this article.

In a major move both for Tesla and the rental-car market, Hertz has announced it has ordered 100,000 Teslas. The rental-car company’s $4.2 billion order represents the largest single EV purchase to date, as Bloomberg noted this morning. Tesla Model 3 cars will start appearing in Hertz airport and other rental locations next month, and the cars will continue to roll out across U.S. and Europe locations through the end of 2022.

Hertz also announced today that customers who rent a Model 3 before February 1, 2022, who use the Tesla charging network will get free charging privileges. The announcement did not specify whether all 100,000 cars will be Model 3s but did not mention other Tesla models.

For the full story, check out this article from Car And Driver.

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