Tesla Inc and Hertz Corporation Deal Analysis By Kristal.AI
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Tesla-Hertz Deal:
Tesla signed a deal with Hertz [World’s largest car rental company to supply 100,000 units of Tesla Model 3 cars which will amount to 20% of Hertz’ existing global fleet. Post the bankruptcy filing in June, this could prove to be a competitive advantage for Hertz looking to reestablish the brand and bank on popularity around Tesla. Although the company is to build thousands of charging stations in addition to access to Tesla’s 3000 supercharger stations, charging network infrastructure remains a concern.
Company performance:
Tesla’s third quarter earnings beat the Bloomberg profit projections with USD 1.86 as compared to estimated USD 1.67 and marked a ninth straight quarter of profit for the carmaker. The sales rose 57% in line with its expectations to achieve 50% average annual growth in vehicle deliveries and showed improved gross margins of 30.5% - highest in the last 5 quarters.
Company analysis:
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