Hertz Orders 100,000 Tesla Cars for End of 2022

The table of car rental institution Hertz is seen astatine Nice International airdrome successful Nice, France connected May 27, 2020. (Eric Gaillard/Reuters)

Hertz said connected Monday the car rental steadfast has ordered 100,000 Tesla Inc. cars for transportation by the extremity of 2022 arsenic it invests to physique the largest electrical conveyance rental fleet successful North America.

Tesla shares were up 4 percent astatine $946.32 earlier the bell.

A Tesla logo is seen connected the assemblage of its electrical conveyance during a media time for the Auto Shanghai amusement successful Shanghai, China connected April 20, 2021. (Aly Song/Reuters)

Hertz had filed for bankruptcy extortion past twelvemonth arsenic question request sank during the tallness of the pandemic and talks with creditors failed to supply relief.

It was rescued by a radical of investors including Knighthead Capital Management, Certares Opportunities, and Apollo Capital Management.