Inside Tesla's $4.2 Billion Model 3 Sale To Hertz via insideevs.com
reported at the time that the move had launched Tesla’s value past $1 trillion, and it has seemingly been a success for both parties ever since.
Hertz was founded over a hundred years ago, though the shift to include Tesla’s vehicles in its lineup was a surprising show of modernity. The announcement came just months after the company had exited bankruptcy, and with new ownership, the Model 3 purchase represented the single-largest sale of electric vehicles yet.
For Tesla, as Main points out, the sale was basically a creative marketing tool that got the EV company’s name out there to a large number of vehicle renters. It also made Hertz somewhat of a stakeholder with a multi-billion dollar investment into Tesla, that would pay out over several months. It’s also a win for the consumer. Those thinking about buying an EV can affordably test the vehicle without needing to purchase their own. Additionally, a rental experience offers users more time with a vehicle than the 15-20 minutes garnered from a test drive — which Main notes isn’t even enough time to fully charge an EV.
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