Hertz said on Monday the car rental firm has ordered 100,000 Tesla Inc. cars for delivery by the end of 2022 as it invests to build the largest EV rental fleet in North America.
Tesla shares were up four per cent at US$946.32 before the bell. Bloomberg first reported the story earlier Monday.
Hertz had filed for bankruptcy protection last year as travel demand sank during the height of the pandemic and talks with creditors failed to provide relief.
It was rescued by a group of investors including Knighthead Capital Management, Certares Opportunities and Apollo Capital Management.
Earlier this month, Hertz named former Ford chief Mark Fields as interim CEO.