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Hertz Is Back From The Near-Dead And Buying 100,000 Teslas

Hertz is restocking its lots with Teslas, according to a new report.

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Hertz spent a large part of last year in bankruptcy, selling off thousands and thousands of cars. It has spent this year rebounding, and, now, buying thousands and thousands of cars. Many thousands of those will be Teslas, according to Bloomberg.

That would be 100,000 to be exact, part of a plan to make Hertz’s fleet more all-electric.

It’s the single-largest purchase ever for electric vehicles and represents about $4.2 billion of revenue for Tesla Inc., according to the people, who asked not to be identified because the information is private. While car-rental companies typically demand big discounts from automakers, the size of the order implies that Hertz is paying close to list prices.

The cars will be delivered over the next 14 months, and Tesla’s Model 3 sedans will be available to rent at Hertz locations in major U.S. markets and parts of Europe starting in early November, the people said. Customers will have access to Tesla’s network of superchargers, and Hertz is also building its own charging infrastructure, they said.


And, look at that, just as I’ve been typing Hertz went ahead and announced the news itself, saying that it will get the Teslas by the end of 2022:

Hertz will offer a premium and differentiated rental experience for the Tesla EVs. This includes digitized guidance to educate customers about the electric vehicle to get them on their way quickly, and coming soon, an expedited EV rental booking process through the Hertz mobile app.

With the current order, EVs will comprise more than 20 percent of Hertz global fleet and is expected to be supported by a combination of Level 2 and DC fast charging in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023. Hertz said these ambitions could be affected by factors outside of Hertz’s control, such as semiconductor chip shortages or other constraints.


Honestly, I think a rental is the ideal situation to dip your toes into an all-electric car, if you haven’t already. Even a Tesla, since you’re probably not using the car for a long road trip, or even if you are you can try that on for size, too. I will be curious, though, to see what kind of premium Hertz will charge to rent a Tesla; I’m sure it won’t be cheap.