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Tesla Surpasses $1 Trillion in Market Value as Hertz Orders 100,000 Vehicles
The Wall Street Journal ^
| October 25, 2021
| Dave Sebastian (in some coffeehouse he sat)
Posted on 10/25/2021 1:15:16 PM PDT by SunkenCiv
Tesla Inc. TSLA 12.66% became the latest U.S. company to cross the $1 trillion milestone in market value as its stock price has more than doubled in the past year on surging sales and rising profit.
Helping Tesla cross the mark Monday was news that Hertz Global Holdings Inc. HTZZ 10.09% had ordered 100,000 vehicles from the electric vehicle maker to stock its rental-car fleet, a major bulk purchase that could help the car company get more of its cars into the hands of mainstream consumers.
In crossing the $1 trillion mark, Tesla joins Apple Inc., Microsoft Corp. , Amazon.com Inc. and Google-parent Alphabet Inc. Facebook Inc. was part of the group, though its share price has since retreated. Tesla, which last week posted its third consecutive quarter of record profit, is now valued more than the next nine largest auto makers by market cap...
The Tesla order is part of a broader effort by Hertz to give customers more battery-powered options on rental-car lots.
The Estero, Fla., company said that starting in early November and expanding through the end of the year, Hertz customers will be able to rent a Tesla Model 3 at airports and other locations in major U.S. markets and some cities in Europe...
“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Mark Fields, Hertz’s interim chief executive. Mr. Fields, a former Ford Motor Co. CEO, took the role earlier this month.
(Excerpt) Read more at wsj.com ...
TOPICS: Business/Economy; Computers/Internet; Music/Entertainment; Travel
KEYWORDS: elonmusk; estero; florida; ford; hertz; markfields; tesla; tropesgomarchingon
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To: HamiltonJay
It’s likely that Hertz is buying these in order to hang on to them longer than they do ICE rental vehicles, in order to minimize maintenance costs. The savings average across the entire fleet, and if it looks good, during the next go-round, makes it more likely that the next group of vehicles are EV.
61
posted on
10/25/2021 2:22:21 PM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: SunkenCiv
Just wait until Musk figures out how to 3D-print EVs.
Robots will become extinct. ‘Assembly’ lines will be real short. 10,000 a day output, that’s for starters.
62
posted on
10/25/2021 2:22:44 PM PDT
by
NormsRevenge
(Semper Fi - Monthly Donors Rock!!! In CONgre$$ WE're Disgusted!!)
To: phoneman08
Our local Meijer grocery store has Tesla chargers.
63
posted on
10/25/2021 2:24:15 PM PDT
by
nascarnation
(Let's Go Brandon!)
To: SunkenCiv
So far,battery cars have been an expensive government generated farce...
To: SunkenCiv
and a library to read a book while waiting for the electric car to charge.
To: nascarnation
How convenient, you have to plug in your car every time you go out, Where do I get one....
66
posted on
10/25/2021 2:25:23 PM PDT
by
central_va
(I won't be reconstructed and I do not give a damn...)
To: SunkenCiv
GM says to park their electric car outside so you do not burn down your home.
To: nascarnation
The entire Tesla fleet is hooked to its network, so the details are exact. Despite the years in business, most Teslas sold (2015-present) and on the road have been built in the past couple of years.
68
posted on
10/25/2021 2:27:31 PM PDT
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: nascarnation
Cool. I bet they’ll be all over the place in the next five years or so.
69
posted on
10/25/2021 2:28:16 PM PDT
by
phoneman08
(qwiyrqweopigradfdz oncmccRthym,.dadfjl,dz )
To: SunkenCiv
And now Hertz has to find the power to charge all of them sounds costly. Preteen Lithium miners rejoice, you are going to have even more hours in the mines !😃
70
posted on
10/25/2021 2:28:19 PM PDT
by
PIF
(They came for me and mine ... now its your turn)
To: SunkenCiv
71
posted on
10/25/2021 2:30:00 PM PDT
by
PIF
(They came for me and mine ... now its your turn)
To: SunkenCiv
Now Tesla needs to re-style their cars to look like Ford Tauruses.
To: SunkenCiv
Tesla - please buy out Haas and see if an AMERICAN company can sponsor a decent F1 team.
73
posted on
10/25/2021 2:35:29 PM PDT
by
larrytown
(A Cadet will not lie, cheat, steal, or tolerate those who do. Then they graduate...)
To: SunkenCiv
Say no to Ford and Government Motors.
74
posted on
10/25/2021 2:36:36 PM PDT
by
Clemenza
(Cloth masks are as worthless as the people who wear them )
To: nascarnation
You can burn the tires with the coal, to produce electricity to charge these things.
75
posted on
10/25/2021 2:44:38 PM PDT
by
SgtHooper
(If you remember the 60's, YOU WEREN'T THERE!)
To: SunkenCiv
How much is the US taxpayer paying for each of those cars. I believe the government subsidizes them.
76
posted on
10/25/2021 2:50:09 PM PDT
by
Revel
To: PGR88
Certainly when the computers and batteries are inoperable, no grease-monkey will be able to touch them. They will simply be thrown away. Just go out and buy a new $60K car, peasant! They will just be dumped into landfills next to wind turbine fans. No toxic waste there; apparently none of this next generation energy stuff can possibly pollute ground water.
77
posted on
10/25/2021 3:04:57 PM PDT
by
Bernard
(The very best scientific articles always contain this phrase: “My personal intuition has been…”)
To: SunkenCiv
The Pilot station near me is putting in charging stations and Sheetz was just torn down for a new store and it will also have charging stations.
The free market/aftermarket will work all of this out.
10 years from now all of you luddites will be saying how much you love your EV...especially when you install home charging stations from solar panels and you get your power for free
78
posted on
10/25/2021 3:11:06 PM PDT
by
setter
To: JD_UTDallas
that electricity to charge the car comes from a kite and a key,...right?
To: SunkenCiv
CDs will never replace cassettes, because CDs wear out eventually and cassettes don't.
EVs have been around probably longer than ICE vehicles, and they haven't caught on, and ICE vehicles took over and will prevail.
CDs, just like a lot of other electronic gadgets, have had their alternatives, and nobody ever expected that they couldn't be replaced. ICE cars vs EVs, are a different story, with over 100 years of history. BTW, have you noticed how vinyl records are making a comeback? Not that the technology is better, but, people are unpredictable.
EVs may be here to stay, but they won't take over, unless it becomes MANDATED by our tyrannical overlords.
Rental companies don't always wait for vehicles to be close to end of warranty. I've bought 3 cars from rental companies, and with 21,000 miles or less on the odometer.
EVs may become popular with rental car companies, but not with the everyday usage consumer. EVs still have the same problems they've always had: range (normally 300 miles or less; range anxiety; fear of getting stuck in the middle of nowhere); long-recharging times; recharger infrastructure still not where they could compete with gas stations; high initial purchase prices; most people will not install charging outlets in their garages; they're impractical in cities; they're not good for cold-weather conditions or even high-temperature conditions; and are not too good at towing anything.
IOW, EVs are a solution for a problem which doesn't exist, and the problem is not about old vs new tech (your CD analogy), and it's not about helping the climate.
80
posted on
10/25/2021 4:14:15 PM PDT
by
adorno
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