Musk Says Tesla Has Not Signed a Contract With Hertz Yet, Halts Stock Rally

Contact Your Elected Officials
The Epoch Times Header

Tesla Inc. top boss Elon Musk said the electric carmaker had not signed a contract with Hertz, more than a week after the car rental firm announced a massive deal with the electric car company.

Teslaโ€™s shares fell 5 percent to $1,146 in premarket trading, after a steep jump following the news of the biggest-ever orderโ€”100,000 electric cars for Hertzโ€”on Oct. 25, which helped Tesla breach $1 trillion in market capitalization.

Musk tweeted late Monday, โ€œIf any of this is based on Hertz, Iโ€™d like to emphasize that no contract has been signed yet.โ€

โ€œHertz deal has zero effect on our economics.โ€

Tesla and Hertz did not immediately respond to a request for comment.

Interim Hertz Chief Executive Officer Mark Fields had told Reuters last week the order will primarily include Model 3 vehicles. Considering Teslaโ€™s cheapest Model 3 sedan starts at about $44,000, the order could be worth about $4.4 billion, if the entire order were for the mass-market sedan.

โ€œTesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers,โ€ Musk said.

Byย Reuters

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

With or without

The mullahs of Iran have been at war with the West, particularly the US, for half a century and Iran is also the worldโ€™s foremost champion of terrorism.

Artificial Intelligence Equals Awful Iniquities

WSJ article โ€œAI is Learning to Escape Human Controlโ€ said in 79 of 100 trials, the o3 AI code systems edited their own code to prevent human shutdown!

VIDEO: Deranged Feminist vs. Mating Ducks in Epic Public Meltdown

A middle-aged white lady lib harasses mating ducks to โ€œstop it!โ€ because the rough sex they enjoy appears non-consensual on the part of the female.

RFK Jr. Slashes ALL U.S. Funding For Bill Gatesโ€™ Global โ€˜Vaccine Allianceโ€™

Robert F. Kennedy, Jr. recently pulled all U.S. government funding from Bill Gatesโ€™ Global โ€˜Vaccine Allianceโ€™ GAVI.

Seven Things Democrats Are Doing Wrong

Ask Democrat voters why Donald Trump was elected president again and you will get answers that show a lack of self-reflection and a ton of deflection.

US Streamlines Rule for Fining Illegal Immigrants, Will Issue Nearly $1,000 Daily Fines for Noncompliance

DHS and DOJ announced a new joint federal rule that streamlines the process of issuing fines for illegal immigrants, making it easier and more efficient.

Man Indicted on 12 Hate Crime Charges in Attack on Boulder Demonstration for Israeli Hostages

Boulder, CO man accused of hurling Molotov cocktails at demonstrators supporting Israeli hostages indicted by grand jury on 12 hate crime counts.

Newsom Signs California Budget Aimed at Addressing $12 Billion Deficit

Gov. Gavin Newsom signed California budget projected to close a $12 billion deficit through spending reductions on some of the stateโ€™s ongoing programs.

Western Battery Technology Aims to Leapfrog Chinaโ€™s Mineral Dominance

Chinaโ€™s stranglehold on the battery market could be loosened with tech that substitutes hard-to-source minerals with alternatives available in the West.

Termination of โ€˜Wasteful Contractsโ€™ Saves US Government $470 Million Last Week: DOGE

Over the past seven days, various government agencies have terminated 312 โ€œwasteful contractsโ€ with a ceiling value of $2.8 billion, the DOGE said.

Trump Says He Will Only Appoint Fed Chair Who Wants to Cut Interest Rates

President Trump said he may appoint someone who is more inclined to lower interest rates to succeed Federal Reserve Chair Jerome Powell.

Trump Says US Ending All Trade Talks With Canada

Trump posted he is ending โ€œallโ€ trade negotiations with Canada due to their plan to impose a digital services tax which affects U.S. tech companies.

White House Confirms US, China Have Reached Additional Trade Agreement

A White House official said the United States and China have reached an additional agreement as trade talks between the two nations continue.
spot_img

Related Articles