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buying Hertz orders 100,000 Teslas to electrify rental fleet, following bankruptcy

10:35  26 october  2021
10:35  26 october  2021 Source:   cnet.com

If You Can’t Find a Rental Car, Try One of These Options

  If You Can’t Find a Rental Car, Try One of These Options If You Can’t Find a Rental Car, Try One of These OptionsAs you may remember when air travel shut down last year, rental car companies had to sell off large sections of their fleets to stay afloat (even veteran company Hertz filed for bankruptcy). As a result, the rental car selection in the U.S. was slashed, which then led to higher prices and lower inventory when travel started picking up again. To compound that problem, rental car companies can't restock their fleets quickly due to the chip shortage and other supply chain delays. Hang tight, though, because we have some alternative ideas for you.

Hertz, fresh from reorganizations and bankruptcy, is making some big changes. On Monday, the rental car company announced it placed an order for 100,000 new Tesla EVs in a move to electrify its fleet. Not only will customers be able to choose a Model 3 when renting from Hertz, but the rental period will come with access to Tesla's Supercharger network, too. On top of that, Hertz will also begin creating its own EV charging station infrastructure, and seven-time Super Bowl champion Tom Brady will front an EV-themed marketing campaign.

There will be a lot of Teslas heading to Hertz. Hertz © Provided by Roadshow There will be a lot of Teslas heading to Hertz. Hertz   Hertz orders 100,000 Teslas to electrify rental fleet, following bankruptcy © Hertz

And it sounds like this fleet of Teslas is just the beginning: The 100,000 cars is an "initial order," Hertz said. The move could help the rental company pull ahead of rivals in the EV space for the time being. Tesla doesn't build millions of vehicles per year (it delivered 241,000 cars in the third quarter of this year), so it may be difficult for another company to counter with its own order, given Tesla's current production numbers. That's especially true with the current supply-chain crunch and semiconductor chip shortage.

Teslas Market power in Norway continues to grow

 Teslas Market power in Norway continues to grow in Norway, the pre-time land for the introduction of E-cars, a new-admission record of streams could be achieved in the month of August. A total of over 70 percent of all new registrations were e-cars. From the boom of the E-Auto industry, the American company Tesla is particularly benefiting. Model Y was able to secure the first place of the best-selling cars. © Provided by finanzen.net Ralph Orlowski / Getty Images • Norway is considered the showcase country in terms of electromobility • In A

Hertz isn't simply buying a ton of Teslas and thinking that will solve its problems, having come out of bankruptcy in June with new owners. The company said its new outlook will focus on not only rental vehicles, but chart a new course for "travel, mobility and the auto industry." These facets will help Hertz create its "modern mobility ecosystem," it said in the announcement. The company did not disclose the terms of its order with Tesla, or how it was financing the multibillion-dollar deal.

"Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," Hertz interim CEO Mark Fields said in a statement. "The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world."

High Rental Car Prices Expected to Last until 2022, at Least

  High Rental Car Prices Expected to Last until 2022, at Least There could be a seasonal price spike coming for the holiday season, and customers can expect to see rental cars staying in service longer than they used to. We know that prices for renting a car have gone up—way up—during the pandemic, but even with the numbers declining a bit in September, most analysts think they will go back up for the holidays.Some experts think things will calm down in 2022, but others don't see prices getting back to normal until 2023. "By February and March next year, all bets are off," one expert told the South Florida Sun Sentinel.

The first Model 3 EVs will enter Hertz's fleet next month and will be available to rent in the US and Europe. Once the 100,000 EVs are on the road, by the end of next year, Hertz said EVs will make up 20% of its global fleet.

Tesla Model 3 remains the gold standard for electric sedans

This was originally published on Roadshow.

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Hertz sued by customers arrested for driving 'stolen' rentals .
Hertz sued by customers arrested for driving 'stolen' rentalsAccording to CBS News, the 165 plaintiffs in the lawsuit are vying for a chunk of what remains of the pre-bankruptcy Hertz. Lawyers representing the former customers must convince the court their clients' cases are strong enough to merit a payout with a long line of creditors waiting to chew on the behemoth's discarded remains.

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