Tesla’s chief executive, Elon Musk, said Monday that the electric vehicle manufacturer had not yet signed a contract with Hertz to sell the car rental agency 100,000 of its vehicles, a deal that was announced last week as Tesla’s stock value pushed past $1 trillion for the first time.
Mr. Musk made the comment on Twitter late Monday in response to a user who had posted a chart depicting Tesla’s skyrocketing stock price.
“If any of this is based on Hertz, I’d like to emphasize that no contract has been signed yet,” he said. “Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers. Hertz deal has zero effect on our economics.”
A Hertz spokeswoman affirmed last week’s announcement.
“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’s communications director, Lauren Luster, said in a statement. “Deliveries of the Teslas already have started. We are seeing very strong early demand for Teslas in our rental fleet, which reflects market demand for Tesla vehicles.”
The car rental agency’s order for 100,000 Teslas represented a bold move for a business just out of bankruptcy and a sign of growing momentum behind the shift away from gas-powered vehicles.
The cars were to be sold at list price, Mr. Musk said. Tesla’s share price has continued to rise since that announcement, and stock in the company is now valued at a collective $1.2 trillion.
After announcing the deal with Tesla, Hertz said it had also teamed up with Uber, the ride-share company, to rent about 50,000 Teslas to its drivers.