Benzinga | Jan 31, 2022 05:49AM EST

Hertz's Free-Charging Offer For Tesla Model 3 Customers Extended By A Month

Hertz Global Holdings (NASDAQ:HTZ) has extended the free charging option for customers who book a Tesla Inc (NASDAQ:TSLA) Model 3 electric sedan by a month, the car rental company's website showed.

What Happened: The Estero, Florida-based Hertz is extending the deal-sweetener for customers who book a Model 3 to March 1, from Feb. 1 earlier.

Hertz, which emerged from bankruptcy in July last year, has been offering Tesla's most affordable vehicle electric mid-size electric sedan Model 3 for rent on its booking platform as part of a national rollout.

Hertz told Benzinga last week that it continues to receive the vehicles for both its retail and Uber Technologies Inc (NYSE:UBER) rental fleets and has availability in several markets.

See Also: Hertz Suggests 'First Wave Of National Rollout' Of Tesla EVs On Track, Prepares To Expand To 'New Markets'

Why It Matters: Hertz in October announced it would be buying 100,000 Teslas by the end of 2022. The company tapped Tampa Bay Buccaneers star Tom Brady to promote the deal at the time.

The deal sent shares of both companies higher, leading to Tesla's shares joining the $1 trillion market capitalization club for the first time.

Hertz also announced a partnership with ride-sharing company Uber to rent out 50,000 Teslas exclusively to drivers by 2023.

Uber later said in a blog post that Model 3 units would be available for booking in Los Angeles, San Francisco, San Diego and Washington DC. from Nov. 1 onwards, with plans for a nationwide expansion in the following weeks.

Price Action: Hertz shares closed 2.5% higher at $18.18 a share.

Photo: Courtesy of Tesla