Hertz, recently emerged from bankruptcy and free of much of its previous debt, will now re-invent itself as the rental company that has electric cars, specifically 100,000 Tesla Model 3s that will join its fleet over the next year.
Hertz says that by the time the order is complete, 20% of the cars in its fleet will be electric, and it will install thousands of fast chargers at its stations to keep them on the road. Or at least to get them started; renters will have to depend on a growing network of publicly-available chargers while they use the cars, including access to Tesla's own network of 3,000+ 'superchargers.'
While the deal is a breakthrough for Tesla into the rental fleet market, it's not an exclusive deal; Hertz officials made clear that they expect to be buying from other EV makers in the future.
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