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Hertz orders 100,000 Tesla cars

by Mike Robinson

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© Reuters. FILE PHOTO – The Hertz desk is seen at Nice International Airport during the COVID-19 coronavirus epidemic in Nice (France), May 27, 2020. REUTERS/Eric Gaillard

(Reuters) – Hertz, a car rental agency, has placed an order for 100,000 Teslas (NASDAQ) Inc vehicles, Bloomberg News reported, citing individuals with knowledge.

According to the report, this is the largest ever purchase of electric cars and generates about $4.2 billion in revenue.

Hertz, Tesla and Reuters did not respond immediately to Reuters’s requests for comment.

Hertz requested bankruptcy protection after the collapse of travel demand during the pandemic. Talks with creditors did not provide relief.

Hertz announced in May that a group including Certares Opportunities, Knighthead Capital Management and Apollo Capital Management would finance the company’s Chapter 11 bankruptcy exit.

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