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100,000 Teslas for Hertz: Elon Musk tries to curb investor euphoria

News that the largest US car rental company Hertz is ordering 100,000 electric cars from Tesla gave the electric car maker a boost from $ 907 to $ 1209 at the close of trading on NASDAQ yesterday. Tesla CEO Elon Musk welcomes the shareholders, but points out in a tweet that the deal is not yet dry: “If any of this was triggered by Hertz, I would like to emphasize that no contract has been signed yet.”

In response to a tweet in which a California association of Tesla car owners showed a chart showing the course of the stock market and thanked Musk, the Tesla boss wrote that the demand for his company’s vehicles was exceeding production capacity. Tesla is offering Hertz the vehicles at the same price as they are for consumers, and the deal will not affect Tesla’s business.

Stock market observers attribute this tweet to the fact that the value of the Tesla share in the current pre-market trading has so far decreased by about 4 percent, after it was 8.5 percent in the plus after yesterday’s trading. In the past six months, the share had risen by a good 76 percent, Elon Musk is now the richest person in the world again.

Hertz announced on October 25 that it would order 100,000 electric cars from Tesla for $ 4 billion, probably Model 3. The first cars ordered should be available this month. According to its own statement, the car rental company was reacting to increasing global demand for electromobility. Shortly afterwards, media reports said that Hertz could even order a total of 200,000 Tesla cars.

Half of the 100,000 Model 3s want to use Hertz as their own rental car, it said, the other half should be able to rent Uber drivers for about 300 dollars a week from Hertz.

(anw)

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