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After Hertz announced that it would purchase 100,000 electric vehicles from a car company by the end of 2022, Tesla’s valuation today (October 25) reached a record $1 trillion, giving the manufacturer the largest ever Orders. This transaction is estimated to bring in $4.2 billion in revenue for Tesla and may help pave the way for the wider adoption of electric vehicles by American drivers.

Most Americans have not yet purchased an electric vehicle (EV). A survey by the Pew Research Center found that nearly half of American adults said they were not interested in buying. A big obstacle to winning these buyers is familiarity: In the Pew survey, people who have heard of at least a little electric car are more likely to express interest in buying an electric car.

Test drive is a way to bridge this gap. Hertz's decision to lease Tesla Model 3 in major US markets and some European cities as early as November may prove to be one of the most effective marketing tools to help electric vehicles enter the mainstream.

Cox Automotive analyst Michelle Krebs wrote in an email that as policymakers promote the electrification of the US car fleet, the opportunity to rent Tesla will give drivers confidence in electric vehicles. Although US President Joe Biden's goal is to make half of new car sales electric by 2030, electric vehicles account for only 2% of new car sales, less than 1% of the country’s existing 289 million vehicles . She added: “Renting a car is the perfect way to win feared consumers,” she pointed out that surveys show that when people gain experience with new technologies, they tend to be more receptive to new technologies (as is the case with self-driving cars).

A February survey by the analysis company JD Power found that compared with respondents who have not tested an electric car, the number of respondents who have traveled in an electric car said they are "very likely" to buy an electric car Nearly tripled. "Stakeholders can take any measures to allow more people to use electric vehicles, whether it’s experience activities, take-home test drives or other active efforts, which will help break people’s preconceptions about pure electric vehicles, and Push for higher considerations," senior director Stewart Stropp (Stewart Stropp) JD Power's auto retail company said in the report.

According to reports, this huge order is the largest electric car purchase order in history, and will make Hertz the largest electric car rental fleet in North America. The company also stated that it is installing thousands of electric car chargers in its location network to solve another major problem of the lack of charging stations. Hertz's stock price only recovered from bankruptcy in June and soared by 14% after the news.

Car rental companies have been reluctant to buy electric cars due to concerns about the cruising range and insufficient charging infrastructure. But these concerns are fading because data shows that the total cost of ownership of electric vehicles (the purchase price of the vehicle plus operating costs) is now lower than traditional vehicles based on fuel and maintenance savings.

Early trials have shown that compared with traditional commercial fleets, electric vehicles tend to have a longer service life and lower maintenance costs. A 2019 analysis in New York City found that despite the higher price tag of electric vehicles, the ownership and operating costs (including maintenance costs) of all-electric vehicles are lower than gasoline, hybrid and hybrid plug-in models. In 2018, the annual maintenance cost of all-electric vehicles in their fleet was less than US$400, while the maintenance cost of gas-powered vehicles was at least US$1,600.

Edmunds.com's Insights senior manager Ivan Drury (Ivan Drury) said: "For gasoline-powered cars, the law does provide for a lot of maintenance intervals." He added that the introduction of an electric car fleet will reduce the time when the vehicle is unavailable. Downtime".

The acquisition of Hertz increased Tesla's leading position in the electric race. A poll by Morning Consult shows that although all major manufacturers are now producing or planning to launch a series of electric models, when most Americans think of electric cars, the first brand they think of is Tesla. No one can compare with Tesla's sales of electric vehicles. Model Y is the best-selling electric car in the world, and Model 3 is the best-selling car in Europe in September.

Through the Hertz acquisition, Telsa may show that it can further reduce manufacturing costs by providing a large number of electric vehicles. Automakers that invest billions of dollars in the production of electric vehicles—such as General Motors, Ford, and Fiat—may find it more difficult to compete. Krebs said: "Tesla absolutely beats its competitors at this point, to a large extent."

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