Wed. Dec 1st, 2021

Tesla got a double shot of good news on the sales front today. Hertz has ordered 100,000 Tesla EVs for its fleet, with plans to rent them in major U.S. markets and parts of Europe starting in November. Bloomberg. This would mark the largest electric car order of all time and a major move by Hertz in electric car rental.

The order is reportedly valued at $ 4.2 billion for the fleet (which appears to be the Model 3s). This represents about 1/10 of what Tesla can currently produce annually, possibly allowing Hertz to lock out other rental companies. It bought the well-appointed instead of the base model version and paid almost the entire list price for each unit.

Hertz customers will have access to the Tesla Supercharger network, and Hertz is expected to build its own charging infrastructure. Finally, Hertz (who owns the Dollar, Thrifty and Firefly brands) plans to go almost entirely electric with its fleet of half-million vehicles.

This is a pretty sharp change for Hertz, considering that it went bankrupt in 2020 and only appeared in June of this year. It was bought by the ruptured debt firm Knighthead Capital Management (among other companies) bank for বিল 1 billion. After a big change in the market, though, it is currently valued at .6 11.6 billion before relying on Nasdaq, Bloomberg Report

Although that’s half the good news for Tesla. According to automotive analysts, the company’s model was the best-selling car in Europe on September 3, with around 24,600 registered units, topping an EV monthly position for the first time, Jetty. It also led to the sale of any car manufactured outside the European Union for the first time. Tesla sales are up 58 percent from last year, and EV / PHEV sales in general are up 23 percent from 2020.

Last month, registrations accounted for 74 percent [Tesla’s] Third Quarterly Volume. Since its entry into the European market, the Model Y has also performed well, ranking second in the BEV rankings.

The news is big for Tesla and the EV industry in general, which shows that EV sales in Europe continue to grow. Much of this has been driven by internal combustion engine (ICE) vehicles with liberal tax exemptions and trade-in incentives. September was a particularly good month for Tesla, with a percentage of its third-quarter volume Jetty

Nevertheless, the global chip shortage has led to a decline in the automotive sector as a whole in Europe and elsewhere. Renault recently said it would produce at least 300,000 fewer vehicles this year due to a global semiconductor shortage, according to Reuters. “This year, the industry has responded well to the epidemic, but it is now facing new supply chain challenges,” he said. Jetty Analyst Felipe Munoz. “The growing popularity of EVs is encouraging, but sales are still not strong enough to offset the big fall seen in other segments.”

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