Tuesday December 5, 2023

Tom Brady Is Face of Hertz After $4.2B Tesla Order

  • Hertz ordered 100,000 Teslas, just four months after coming out of bankruptcy.
  • The electric vehicles will comprise 20% of Hertz's fleet.
Hertz/Design: Alex Brooks
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Hertz announced this week that it’s buying 100,000 Teslas, and the company has tapped Tom Brady to promote the massive new deal.

The rental car giant worked with Brady’s creative agency Shadow Lion to create an ad campaign around the quarterback’s signature line, “Let’s go!”

The $4.2 billion Tesla transaction, made just four months after Hertz emerged from its May 2020 bankruptcy, is the largest purchase of electric vehicles in history. Teslas will now comprise 20% of Hertz’s total fleet.

The deal put a charge into Tesla’s stock price.

  • The electric car maker’s stock jumped 4.5% at market open on Monday, peaking at 18.8% growth on Tuesday morning.
  • Tesla’s market capitalization hit $1.03 trillion, making it the sixth $1 trillion public company in the world after Apple, Microsoft, Saudi Aramco, Alphabet, and Amazon.
  • The rising tide lifted founder and CEO Elon Musk to the title of richest person in the world with a net worth of $253.8 billion, as of Wednesday. In March, Musk joined the board of UFC owner Endeavor.

The Tesla Model S P100D was slated to be the model vehicle for the Electric Production Car Series, with races planned across Europe.

The series was indefinitely delayed due to an apparent failure to find a lead investor.

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