# Hertz Orders 100,000 Tesla Vehicles for Rentals
Hertz, a rental company, faced bankruptcy in May 2020 due to the COVID-19 pandemic causing a significant drop in vehicle rentals. Thanks to a substantial refinancing effort of $5.9 billion by investors like Knighthead Capital Management and Certares Management, Hertz is back in business. To improve their appeal, they are shifting towards renewable energy sources.
Today, Hertz has revealed that they acquired 100,000 Tesla Model 3 sedans to enhance their rental fleet. These electric vehicles will be available for rent in the United States and Europe starting next month. Renters will have access to Tesla supercharger stations for recharging, and Hertz plans to set up its own charging infrastructure within its local networks.
This purchase not only promotes Hertz’s commitment to sustainable practices but also marks a significant milestone for Tesla, generating approximately $4.2 billion in revenue, making it the largest electric vehicle order to date.
Hertz’s interim CEO, Mark Fields, emphasized the popularity of electric vehicles, stating that they are emerging as a mainstream option with increasing global demand. He envisions Hertz becoming a leader in mobility services, starting with the largest EV rental fleet in North America and a dedication to expanding the EV fleet to provide a superior rental and recharging experience for customers worldwide.
Following this substantial purchase, Hertz aims to transition its entire 500,000-vehicle fleet to electric vehicles in the coming years.
