By Dave Sebastian

 

Hertz Global Holdings Inc. said it has placed an initial order for 100,000 Tesla Inc. vehicles by the end of 2022, an investment the rental-car company is making after emerging from bankruptcy under new ownership.

The company on Monday said 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 certain cities in Europe.

Electric vehicles will comprise more than 20% of the company's global fleet with the current order, Hertz said. The company said it introduced electric vehicles into its fleet in 2011.

Hertz said it is also installing thousands of electric-vehicle chargers in its network. Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations in the U.S. and Europe, the company said.

Hertz said it expects a combination of level 2 and DC fast charging in about 65 markets by the end of 2022 and more than 100 markets by the end of 2023.

"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.

The investment in electric vehicles is part of what the company defines as "the new Hertz," which focuses on electrification, shared mobility and a digital-first experience, the company said.

Hertz warned that the efforts could be hampered by factors outside its control, such as the shortage of semiconductor chips and other constraints.

The company said it has partnered with Super Bowl champion Tom Brady for a marketing campaign for the electric-vehicle rentals.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

October 25, 2021 08:43 ET (12:43 GMT)

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