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Hertz Teams With Uber, Carvana in Big Shift to Electric Cars

  • Uber drivers can rent Teslas for less than buying or leasing
  • Selling online via Carvana may reduce losses to discounting
Uber Technologies Inc. Electric Car Taxi Service In Madrid
Photographer: Angel Navarrete/Bloomberg
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Hertz Global Holdings Inc., fresh off a blockbuster order for 100,000 Teslas, reached an exclusive agreement to supply Uber drivers with electric vehicles and signed up Carvana Co. to dispose of rental cars it no longer wants. 

Taken together, the deals represent a trifecta of aggressive and innovative initiatives with the potential to upend the car-rental business and hasten the transition to greener transportation. The order for Model 3s on Monday, the largest-ever for EVs at $4.2 billion, was such a watershed moment that it propelled Tesla Inc.’s valuation past $1 trillion