(Hertz) Tesla stock was up more than 5% on Monday following news that Hertz will buy 100,000 electric vehicles to add to its rental fleet.
Hertz said it would partner with entrepreneur and seven-time Super Bowl champion Tom Brady to demonstrate its EV rentals strategy in the continued embrace of future mobility and travel solutions.
Hertz now says starting early November, customers at Hertz airports and neighborhood locations in the US and some European cities can rent a Tesla Model 3 vehicle.
The company seeks to offer a differentiated and premium experience for Tesla EVs, including digitized guidance for customers.
The company is also installing chargers in its location network to allow customers access up to 3,000 Tesla supercharging stations in America and Europe.
Hertz is banking on survey findings that shows that 40% of Americans would consider an electric vehicle purchase, with global uptake of EVs up 200% in the last year.
The continued uptake of EVS is driven by the need for high efficiency, avert climate change effects, and improve user experience. Hertz projects that at least 20% of its global fleet will be EVs after the current order.
TSLA: NASDAQ is up +5.41%, HTZZ: OTCPK is up +10.57%.
