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Tesla Inc. and Hertz Global Holdings Inc. are negotiating over how quickly Hertz will receive deliveries from a bulk order of 100,000 Tesla electric cars for its rental fleet, according to people familiar with the matter.
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Hertz on Oct. 25 said it had placed “an initial order of 100,000 Teslas by the end of 2022.” The press release included no statement from Tesla.
Some Tesla
TSLA,
officials were surprised by how quickly Hertz
HTZ,
said the order would be filled and had been expecting to deliver roughly 10,000 vehicles a year to Hertz, one of the people said. Another one of the people said the press release was shared with Tesla representatives. Wall Street expects Tesla to deliver nearly 900,000 vehicles globally this year.
The two companies are hammering out details of a deal that would specify the timing of deliveries, the people said. Tesla is still expected to supply the 100,000 vehicles at the list price to Hertz, with timing of the deliveries being the key issue, the people said.
See: Musk says Hertz deal isn’t signed — and questions Tesla rally after the announcement
“As we announced last week, Hertz has made an initial order of 100,000 Tesla electric vehicles and is investing in new EV charging infrastructure across the company’s global operations,” Hertz said, repeating a statement issued Tuesday. “Deliveries of the Teslas already have started.”
An expanded version of this report appears at WSJ.com.
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