Elon Musk Claims Tesla Has Not Signed Deal With Hertz

Tesla’s stocks dipped after Musk tweeted the announcement.

Automotive
4,556 Hypes 0 Comments

Last week, Hertz and Tesla entered into a deal that was cited as the “biggest-ever rental car order for electric vehicles” by the BBC, however Elon Musk took to Twitter to denounce the deal saying that there has yet to be a contract that has been signed.

The CEO tweeted, “I’d like to emphasize that no contract has been signed yet. Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers. Hertz deal has zero effect on our economics.”

In response to the tweet, a spokeswoman told BBC, “Deliveries of the Teslas already have started. As we announced last week, Hertz has made an initial order of 100,000 Tesla electric vehicles and is investing in new EV (electric vehicle) charging infrastructure across the company’s global operations.” However, Hertz refused to confirm whether or not a contract has been signed.

Hertz reportedly paid approximately $4.2 billion USD for a 100,000 order of Tesla Model 3s to be delivered over the next 14 months. The rental company also announced that it would be building charging stations to accommodate their orders. Hertz released a statement that read that, “beginning in early November and expanding through year-end” customers would be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations at certain areas in the US and Europe.” The announcement caused Tesla shares to see a 12.6% jump.

Take a look at Musk’s tweet below.

In other tech news, Facebook recently verified a Bitcoin scammer posing as Elon Musk.

Read Full Article

What to Read Next

Elon Musk Has Sold About $5 Billion USD of Tesla Stock So Far
Tech 

Elon Musk Has Sold About $5 Billion USD of Tesla Stock So Far

In response to a Twitter poll asking his followers whether he should sell 10% of his stake to pay taxes.

Tesla's Stock Takes a 15% Tumble Following Elon Musk's Tax Sell-Off
Tech 

Tesla's Stock Takes a 15% Tumble Following Elon Musk's Tax Sell-Off

Tesla is still up 42% YTD.

Elon Musk Has Sold Another $1 Billion USD-Worth of Tesla Stock
Tech 

Elon Musk Has Sold Another $1 Billion USD-Worth of Tesla Stock

1.4 million shares away from his goal.


Elon Musk Sold Another $1 Billion in Tesla Shares
Tech 

Elon Musk Sold Another $1 Billion in Tesla Shares

Musk has sold a total of $9.85 billion USD in Tesla stock this month.

Rare 1970 'Dune' Storyboard Set To Hit Christie's Auction Block
Art

Rare 1970 'Dune' Storyboard Set To Hit Christie's Auction Block

Alejandro Jodorowsky’s adaptation of the film is expected to sell for upwards of $28,000 USD.

Live Nation Is Launching NFT Ticket Stubs
Tech

Live Nation Is Launching NFT Ticket Stubs

“Live Stubs” are expected to be minted in collaboration with the artists.

Childish Gambino and Ariana Grande Rumored to Appear on 'An Evening With Silk Sonic'
Music

Childish Gambino and Ariana Grande Rumored to Appear on 'An Evening With Silk Sonic'

After album host Bootsy Collins tagged them in an Instagram post promoting the record.

Chipotle Is Testing Its Latest Pollo Asado Menu Item
Food & Beverage

Chipotle Is Testing Its Latest Pollo Asado Menu Item

In 95 locations around Cincinnati and Sacramento.

Xbox Intends to Build 3D Metaverses for Its Games and Apps
Gaming

Xbox Intends to Build 3D Metaverses for Its Games and Apps

Microsoft CEO Satya Nadella says games like ‘Halo,’ ‘Minecraft,’ and ‘Flight Simulator’ are already metaverses.


Apple's Official Reveals Why Touchscreen and Face ID Are Absent in New MacBooks
Tech

Apple's Official Reveals Why Touchscreen and Face ID Are Absent in New MacBooks

It is more user-friendly to exclude them.

Blizzard Delays 'Diablo IV' and 'Overwatch 2' Indefinitely
Gaming

Blizzard Delays 'Diablo IV' and 'Overwatch 2' Indefinitely

The developer’s turbulent year is getting worse.

Razer Updates Its Productivity Line With "Silent" Mechanical Switches
Tech

Razer Updates Its Productivity Line With "Silent" Mechanical Switches

Enjoy your usual typing experience without disturbing your colleagues.

Seth Rogen Reportedly Starring in Standalone 'Donkey Kong' Film
Entertainment

Seth Rogen Reportedly Starring in Standalone 'Donkey Kong' Film

Nintendo is going beyond ‘Super Mario Bros.’

Scottie Pippen Claims 'The Last Dance' "Glorified" Michael Jordan But "Demeaned" His Bulls Teammates
Sports

Scottie Pippen Claims 'The Last Dance' "Glorified" Michael Jordan But "Demeaned" His Bulls Teammates

Adding that while MJ made $10M USD from the docuseries, his teammates “didn’t earn a dime.”

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.