Hertz adds Tesla's Model Y to its EV fleet

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March 23, 2022 7:05 PM EDT

Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS

(Reuters) - Hertz Global Holdings Inc has added Tesla Inc's electric mid-size SUV Model Y to its electric vehicle fleet, according to the car rental firm's website.

The development comes months after Hertz announced its order to purchase 100,000 electric cars from Tesla, primarily the EV maker's Model 3 vehicles.

News of the massive deal had triggered a meteoric rally in Tesla's stock, helping it surpass $1 trillion in market value. However, Tesla boss Elon Musk later said the company had not signed a contract with Hertz.

Model Y was added to Hertz's fleet this week, news website Electrek reported on Wednesday.

Last month, Florida-based Hertz named former Goldman Sachs finance chief Stephen Scherr as its top boss, replacing interim CEO Mark Fields.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Devika Syamnath)


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