Elon Musk Says Tesla Has Not Signed Deal With Hertz Yet

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Business|Elon Musk says Tesla has not signed a woody with Hertz yet.

https://www.nytimes.com/2021/11/02/business/elon-musk-tesla-hertz.html

A Hertz determination  astatine  Miami International Airport.
Credit...Joe Raedle/Getty Images

Niraj Chokshi

  • Nov. 2, 2021, 9:16 a.m. ET

Tesla’s main executive, Elon Musk, said Monday that the electrical conveyance shaper had not yet signed a declaration with Hertz to merchantability the car rental bureau 100,000 of its vehicles, a woody that was announced past week arsenic Tesla’s banal worth pushed past $1 trillion for the archetypal time.

Mr. Musk made the remark connected Twitter precocious Monday successful effect to a idiosyncratic who had posted a illustration depicting Tesla’s skyrocketing banal price.

You’re welcome!

If immoderate of this is based connected Hertz, I’d similar to stress that nary declaration has been signed yet.

Tesla has acold much request than production, truthful we volition lone merchantability cars to Hertz for the aforesaid borderline arsenic to consumers.

Hertz woody has zero effect connected our economics.

— Elon Musk (@elonmusk) November 2, 2021

“If immoderate of this is based connected Hertz, I’d similar to stress that nary declaration has been signed yet,” helium said. “Tesla has acold much request than production, truthful we volition lone merchantability cars to Hertz for the aforesaid borderline arsenic to consumers. Hertz woody has zero effect connected our economics.”

A Hertz spokeswoman affirmed past week's announcement.

“Hertz has made an archetypal bid of 100,000 Tesla electrical vehicles and is investing successful caller EV charging infrastructure crossed the company's planetary operations,” Hertz's communications director, Lauren Luster, said successful a statement. “Deliveries of the Teslas already person started. We are seeing precise beardown aboriginal request for Teslas successful our rental fleet, which reflects marketplace request for Tesla vehicles.”

The car rental agency’s bid for 100,000 Teslas represented a bold determination for a concern conscionable retired of bankruptcy and a motion of increasing momentum down the displacement distant from gas-powered vehicles.

The cars were to beryllium sold astatine database price, Mr. Musk said. Tesla’s stock terms has continued to emergence since that announcement, and banal successful the institution is present valued astatine a corporate $1.2 trillion.

After announcing the woody with Tesla, Hertz said it had besides teamed up with Uber, the ride-share company, to rent astir 50,000 Teslas to its drivers.

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