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Photo: Artur Widak/NurPhoto via Getty Images

Car rental company Hertz announced Monday it will purchase 100,000 Tesla Model 3s by the end of 2o22 and install thousands of chargers across the United States as part of the company's turn toward electric vehicles.

Why it matters: It's a major purchase for Hertz, which filed for bankruptcy last year because of the coronavirus pandemic, and a major sale for Tesla, coming just after it reported its highest-ever quarterly profit despite global supply chain problems.

  • Hertz also said it will be partnering with seven-time Super Bowl champion Tom Brady to promote its shift toward EVs.

What they're saying: "Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," said Mark Fields, Hertz' interim CEO.

  • "The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world," Fields added.

The big picture: No price was given for the order, but a new Tesla Model 3 is more than $40,000, meaning the purchase could be at least $4 billion.

  • The company said it's creating a fleet of EVs because of growing consumer interest in the vehicles and for the climate change benefits of the technology.

Go deeper: Tesla is outrunning the supply chain crunch

Go deeper

Toyota to build $1.3 billion U.S. battery plant in North Carolina

The all-electric Toyota bZ4X, the company's first battery-electric vehicle, at the Los Angeles Auto Show in Los Angeles, California on Nov. 17. Photo: Frederic J. Brown/AFP via Getty Images

Toyota announced Monday it's investing $1.3 billion to construct an electric vehicle battery "megasite" near Greensboro, North Carolina, set to open in 2025.

Why it matters: The Greensboro-Randolph Megasite will employ 1,750 people and have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles when it opens, per a Toyota statement.

Ben Geman, author of Generate
Dec 7, 2021 - Energy & Environment

Power industry teams up on highway EV charging

A vehicle at a Tesla Supercharger station in Vallejo, California, on Oct. 19. Photo: David Paul Morris/Bloomberg via Getty Images

The big trade group for investor-owned power companies is set to unveil Tuesday a new coalition aimed at making electric vehicle charging more accessible along the nations' highways.

Driving the news: The Edison Electric Institute is rolling out the National Electric Highway Coalition. It merges two existing efforts — Electric Highway Coalition and the Midwest Electric Vehicle Charging Infrastructure Collaboration — and brings in new companies.

Inside Trump's hunt for "disloyal" Republicans

Illustration: Aïda Amer/Axios

Donald Trump and his associates are systematically reshaping the Republican Party, working to install hand-picked loyalists across federal and state governments and destroy those he feels have been disloyal, sources close to the former president tell Axios.

Why it matters: If most or all of Trump’s candidates win, he will go into the 2024 election cycle with far more people willing to do his bidding who run the elections in key states.