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Elon Musk ‘emphasises’ no contract has been signed with Hertz yet

Elon Musk said Tesla Inc. hasn’t yet signed a contract with Hertz Global Holdings Inc., despite the car rental company last week announcing a record order for 100,000 Model 3 sedans for $4.2 billion.

Musk was replying to a tweet from an account named Tesla Silicon Valley Club, which showed a chart of Tesla’s rising stock price.

“You’re welcome! If any of this is based on Hertz, 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,” Elon Musk tweeted.

 

You’re welcome!If any of this is based on Hertz, 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.— Elon Musk (@elonmusk) November 2, 2021

Musk’s net worth rose by $24 billion to $335.1 billion Monday as the electric automaker’s shares jumped 8.5% in New York. That widened his lead over Amazon.com Inc.’s Jeff Bezos as the world’s wealthiest person to $143 billion, according to the Bloomberg Billionaires Index. Buffett, chairman of Berkshire Hathaway Inc., ranks 10th with a net worth of $104.1 billion.

Last week, Tesla Inc breached a trillion dollars in market capitalization, the fifth U.S. company to join the club, which includes Apple, Microsoft, Amazon and Alphabet.

 

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