Rental car giant Hertz Global (HTZ) says it has added Tesla's (TSLA) mid-size SUV, the Model Y, to its electric vehicle fleet.
The development comes months after Hertz announced its order to purchase 100,000 electric cars from Tesla, primarily the electric vehicle maker's Model 3 sedan.
News of the massive deal had triggered a meteoric rally in Tesla's stock, helping it surpass $1 trillion U.S. in market value.
Tesla’s shares have gained 25% in the past month to now trade at just under $1,000 U.S. Hertz stock has increased 14% over the last four weeks to now trade at $22.45 U.S. per share.
Last month, Florida-based Hertz named former Goldman Sachs (GS) finance chief Stephen Scherr as its new chief executive officer (CEO), replacing interim CEO Mark Fields.
