Stock Groups

Hertz in talks with Tesla for EV delivery timeline

by Mike Robinson

[ad_1]

© Reuters.

(Reuters) – Tesla (NASDAQ:) Inc and Hertz Global Holdings (OTC:) Inc are working out how quickly the rental car company can receive deliveries from its large order of Tesla’s electric cars, the Wall Street Journal https://on.wsj.com/3BLgDFm reported on Thursday, citing people familiar with the matter.

Reuters asked Tesla and Hertz to comment but did not receive a response.

Hertz stated last week it received an initial order totaling 100,000 Teslas. Mark Fields, Interim Hertz Chief Executive, stated to Reuters that Model 3 will make up the majority of the orders. It triggered a rapid rally in carmaker stock, which helped the company reach $1 trillion in market capitalization.

Tesla chief Elon Musk however took to Twitter (NYSE 🙂 Monday to declare that his company has not signed a deal with Hertz. The result was a temporary halt in Tesla’s stock market rally.

Hertz responded to Musk’s remarks by stating in a statement, that Tesla deliveries had already begun.

Hertz reported Tuesday that “we are seeing strong early demand Teslas in our rentals fleet which reflects the market demand for Tesla cars.”

Already, the company is advertising their Tesla fleet via websites as well as in YouTube ads featuring quarterback Tom Brady of National Football League (NFL).

Premarket trading saw Tesla shares rise 2.3% to $1,242 and have added about $350 Billion to their market value, since October 20, when the company reported strong third quarter results.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]