The announcement by car rental company Hertz that Tesla will deliver 100,000 vehicles to the company hit like a bomb. Tesla’s share price rose more than 10 percent in one day, bringing the electric car maker’s market capitalization to more than a trillion dollars. Tesla thus became the first automotive company to break through this valuation barrier, which had previously only been reached by digital companies such as Apple, Microsoft and Google.
A rental car company like Hertz has a vehicle in its fleet for an average of 13 months before it is resold. That means this deal with Tesla covers about a year before the next vehicles are reordered. At the current rate of production, Hertz alone would order 10 percent of capacity. Each year, Tesla will use it to deliver 100,000 vehicles to Hertz.
And now, however, more details about the deal are coming to light. For example, 50,000 of the electric cars are to be offered to Uber drivers in a deal with Uber. Uber offers its drivers favorable leasing conditions so that they can always drive with the latest models, which are therefore convenient for customers. This is intended to differentiate them from cab companies, whose fleets often have years under their belt and appear less attractive to customers. In the next three years, 150,000 Teslas could be used by Uber drivers.
This approach also makes a lot of sense for Hertz. Electric vehicles still require explanation. Offering them to Uber drivers allows drivers to drive the vehicles long-term and become familiar with them. The vehicle must first be explained to rental customers who are less familiar with electric mobility.
For the time being, however, the vehicles will still be equipped without the Full Self Driving software.
This article was also published in German.