Hertz buys 100,000 Teslas

Tesla factory
Tesla factory(CNN)
Published: Oct. 25, 2021 at 9:14 PM CDT
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BISMARCK, N.D. (KFYR) - The car rental company Hertz announced Monday it will buy 100,000 electric vehicles from the carmaker Tesla. The acquisition shot Tesla shares up to more than $1,000 per share for the first time. Financial experts say Hertz’s announcement is a sign that the market is adapting to a greener future.

“What people want to start doing is get ahead of the green energy push for down the road, so you’re seeing that push and companies are trying to get ahead of that. So that’s what business does, it tries to be at the forefront of changes so that it doesn’t get late to the party and have to play catch-up,” said David Wald, president of Securian Financial Advisors.

Multiple entities in North Dakota support the expansion of electric vehicle infrastructure in the state, including the Lignite Energy Council. This summer, the city of Bismarck erected multiple electric vehicle charging stations.

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