Investing.com – Tesla stock (NASDAQ:TSLA) climbed more than 4% in Monday’s premarket as a revived Hertz gave the company an order for 100,000 electric vehicles.
Tesla's cheapest Model 3 sedan starts at about $44,000. Ignoring the discount that large, negotiated orders tend to come with, the order is worth $4.4 billion, making it the largest ever for the EV-maker.
The cars have to be delivered by December next year, according to a note by Hertz.
Tesla shares also got a boost from news of Tesla’s Model 3 becoming the first electrical vehicle to top monthly sales of new cars in Europe.
Customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in U.S. major markets and select cities in Europe.
Hertz is installing thousands of chargers, and customers who rent Model 3 will have access to 3,000 Tesla supercharging stations throughout the U.S. and Europe.
Hertz filed for bankruptcy protection last year. It was rescued by a group of investors including Knighthead Capital Management, Certares Opportunities and Apollo Capital Management.