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Tesla soars after landing largest EV deal ever with Hertz set to plug in 100K cars

  • Hertz Global (OTCPK:HTZZ) is ordering 100K vehicles from Tesla (NASDAQ:TSLA) as the car rental company makes a major move to offer electric vehicles to customers.
  • Bloomberg reports that the deal is the largest single purchase for EVs ever and will bring in around $4.2B in revenue for Tesla (TSLA).
  • The vehicles are expected to be delivered to Hertz (OTCPK:HTZZ) over the next 14 months. The development is an indication of the advantage that Tesla has in signing deals before General Motors (NYSE:GM) and Ford (NYSE:F) ramp up their electric vehicle production.
  • Shares of TSLA are up 4.34% premarket to $949.59, which is record high territory.
  • Read all the developments with Tesla from the weekend.