Hertz Orders 100,000 Tesla Cars for End of 2022

The desk of car rental company Hertz is seen at Nice International airport in Nice, France on May 27, 2020. (Eric Gaillard/Reuters)

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 electric vehicle rental fleet in North America.

Tesla shares were up 4 percent at $946.32 before the bell.

A Tesla logo is seen on the body of its electric vehicle during a media day for the Auto Shanghai show in Shanghai, China on April 20, 2021. (Aly Song/Reuters)

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.