Hertz order for 100,000 EVs sends Tesla shares to $1 trillion

**harrybarracuda** · 26-10-2021, 01:26 AM

Hertz Global Holdings Inc., barely four months out of bankruptcy, placed an order for 100,000 Teslas in the first step of an ambitious plan to electrify its rental-car fleet. Tesla Inc.’s shares soared, pushing the automaker’s value past $1 trillion for the first time.

The cars will be delivered over the next 14 months, and Tesla’s Model 3 sedans will be available to rent at Hertz locations in major U.S. markets and parts of Europe starting in early November, the rental company said in a statement. Customers will have access to Tesla’s network of superchargers, and Hertz is also building its own charging infrastructure.

It’s the single-largest purchase ever for electric vehicles, or EVs, and represents about $4.2 billion of revenue for Tesla, according to people familiar with the matter who declined to be identified because the information is private. While car-rental companies typically demand big discounts from automakers, the size of the order implies that Hertz is paying close to list prices.

Hertz order for 100,000 EVs sends Tesla shares to $1 trillion | Technology News | Al Jazeera

**Takeovers** · 26-10-2021, 03:33 AM

The deal probably pushed Tesla above $1000 a share. But the share price was already rising after excellent third quarter results.

As a side effect the recent rise of both Tesla and SpaceX has put Elon Musk in position of richest man in the world again. SpaceX has been valued $100 billion recently and may rise a lot more thanks to Starlink internet satellites and Elon Musk holds almost half of that. His share in Tesla is however much higher than that.

**Cujo** · 26-10-2021, 07:33 AM

I wonder how the electricity to charge will be generated.

**Backspin** · 26-10-2021, 07:57 AM

Tesla is a stock pumped bubble fraud. Simple data. This is a year old. Its worse now.

Tesla delivered just under 500,000 vehicles in 2020.

Toyota (NYSE:TM) and Volkswagen (OTC:VWAGY) sold over 10 million cars each in 2019. General Motors (NYSE:GM) and Ford (NYSE:F) topped 7 million and 5 million, respectively.

This is way worse now too and completely out of the realm of sanity

**Backspin** · 26-10-2021, 08:10 AM

Originally Posted by Cujo

I wonder how the electricity to charge will be generated.

It doesn't matter. They aren't flooding the world with electric cars. Its a share price fraud.

Tesla Is Losing Market Share In Every Major Car Market (NASDAQ:TSLA) | Seeking Alpha

**Edmond** · 26-10-2021, 09:49 AM

I read that Ol' Elon's personal value broke through 1/4 of a trillion USD.

Which would be nice.

**panama hat** · 26-10-2021, 10:09 AM

Originally Posted by Backspin

Tesla is a stock pumped bubble fraud. Simple data. This is a year old. Its worse now.

Absolutely . . . it's simply ridiculous

**Hugh Cow** · 26-10-2021, 10:31 AM

I'd be selling now. I certainly wouldn't be buying at a PE currently around 250.

**Backspin** · 26-10-2021, 10:38 AM

Originally Posted by panama hat

Absolutely . . . it's simply ridiculous

Tesla's sales were 2% higher than VW group in the 1st half of 2021.

Which according to Panama hat totally legitimizes .... This:

**Backspin** · 26-10-2021, 10:48 AM

You don't need to know very much about stocks or anything to see that Tesla is a fraud.

And yet....

**Edmond** · 26-10-2021, 12:51 PM

"posters should stay on topic and refrain from personal attacks."

**Takeovers** · 26-10-2021, 01:12 PM

Tesla has its value because it is rapidly expanding. It is close to 1 million cars for this year and will massively expand next year with the factories in Berlin, Germany and Austin, Texas coming online late this year. The existing factories also expand.

They are also developing and building their own factories for batteries, besides buying from partners. They will receive massive subsidies for their german battery factory. Which is somewhat ironic because these subsidies were introduced by EU and Germany to make european and german electric car manufacturing more competetive. But as german car manufacturers except VW a in a deep sleep they missed that opportunity. They are now slowly waking up.

When they reached $900 for a share early this year they were probably overvalued, at least Elon Musk said so. But now that's no longer true. They may not reach the goal of 20 million cars a year by 2030, but 10 million cars is certainly within reach. Which will make them equal to VW or Toyota.

**Takeovers** · 26-10-2021, 01:27 PM

Originally Posted by panama hat

They have a large slice fo their income from batteries as well, part of the overall numbers, though

This but not only this. Tesla produces much more in house than other car manufacturers. Most of them buy very much from external suppliers.

I suspect that Tesla will join with Starlink to produce their own chips, to become less dependent on asian suppliers. Experts tell me, they can't. But when have the industry experts ever been right about Tesla and SpaceX?

They use their battery packs also to expand into the energy market. They build huge battery storage farms, that charge when there is an excess of energy from wind farms and sell at peak hours when demand and spot prices are high. That business is also rapidly expanding, limited by battery supply.

**sabang** · 26-10-2021, 01:31 PM

Poor, poor Elon:-

Elon Musk slams Biden over his new billionaires’ tax and warns ‘eventually they run out of other people’s money and come for you’ - even as Tesla CEO's wealth surges $36BN in ONE DAY

..... In 2018, Musk paid no federal income tax. The records show he paid $68,000 in 2015 and $65,000 in 2017.....

Full Article- Elon Musk slams Biden over his new billionaires' tax | Daily Mail Online

**harrybarracuda** · 26-10-2021, 03:12 PM

Originally Posted by Backspin (Hertz order for 100,000 EVs sends Tesla shares to $1 trillion)

Tesla is a stock pumped bubble fraud

I guess skiddy won't be including this in his expansive portfolio then.

**Edmond** · 26-10-2021, 03:13 PM

Originally Posted by panama hat

he can actually handle it without sulking and stalking

Yes, doesn't come across as a beta that would go crying to lawyers.

Originally Posted by panama hat

I just gave him a red

As long as it was sent with a picture of Emma The Ladyman he'll be happy.

Originally Posted by sabang

In 2018, Musk paid no federal income tax. The records show he paid $68,000 in 2015 and $65,000 in 2017.....

That does sound a little bit dodgy.

I presume he didn't take much income from the companies and stocks he owns.

**Takeovers** · 26-10-2021, 04:13 PM

Originally Posted by Edmond

That does sound a little bit dodgy. I presume he didn't take much income from the companies and stocks he owns.

He receives minimum wage income. It is California law, that he can not work without pay. He said it goes into some account he never looked at. He gets big share packets based on long term growth of the company, not quarterly results, according to an agreement signed years ago.

When it was signed general opinion was that it is ludicrous and the goals stated can never be achieved.

**happynz** · 26-10-2021, 04:22 PM

Originally Posted by sabang

[Musk] warns ‘eventually they run out of other people’s money and come for you’

Oh Christ, not that old chestnut again...

Probably plays well amongst the rubes which is why he performs that old song and dance.

**Edmond** · 26-10-2021, 04:26 PM

^^ Well, I guess that's better than having a maid that's worth 470 million baht.

**sabang** · 26-10-2021, 04:31 PM

Once upon a time, we used to believe in this thing called the Social Contract. What one earth happened to that, in this so called Democracy we live in? We are more unequal now than the Robber Baron era. Even back then, I have a feeling they paid more tax than the middle class.

**Takeovers** · 26-10-2021, 04:43 PM

Originally Posted by sabang

Once upon a time, we used to believe in this thing called the Social Contract. What one earth happened to that, in this so called Democracy we live in? We are more unequal now than the Robber Baron era. Even back then, I have a feeling they paid more tax than the middle class.

With Tesla Elon Musk has single handed shifted the car industry in the direction of electric cars. Nobody can do more for society than that.

**Samuel** · 26-10-2021, 04:46 PM

Originally Posted by Takeovers

With Tesla Elon Musk has single handed shifted the car industry in the direction of electric cars. Nobody can do more for society than that.

Yep, he showed it can be done and done well.

Not to mention creating good-paying jobs for over 100,000 people (currently employed).

**sabang** · 26-10-2021, 04:51 PM

I'm glad he's rich. But can't he pay as much tax as his secretary? His fellow space cowboy Bezos is no different. It just seems morally wrong to me, and thoroughly undemocratic.

**Takeovers** · 26-10-2021, 04:56 PM

Originally Posted by sabang

I'm glad he's rich. But can't he pay as much tax as his secretary? His fellow space cowboy Bezos is no different. It just seems morally wrong to me, and thoroughly undemocratic.

As soon as he sells shares, he will have to pay taxes on the gains. There may be years when he pays nothing, in other years it will be a lot.

**malmomike77** · 26-10-2021, 04:58 PM

We're back in the if you have enough money you can avoid paying tax debate, them and the politicos they pay off will ensure it continues this way in their favour.

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