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Is Tesla Making a Deal With Hertz?

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Confusion has erupted over rental car company Hertz's announcement that it was in talks to purchase 100,000 Tesla Model 3 electric vehicles. The announcement sent Tesla's stock price soaring, helping to raise its market cap to over $1 trillion.

But Elon Musk's latest tweet is apparently refuting the Hertz  (HTZZ) - Get Hertz Global Holdings Inc Report claim. Musk said, "I’d like to emphasize that no contract has been signed yet. 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."

Hertz plans to boost its inventory of EVs and the deal would be the largest-ever rental car order for electric vehicles.

Interim Hertz CEO Mark Fields stated in an Associated Press interview that Teslas were already arriving at the company’s sites and should be available for rental starting in November. 

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