Hertz Adds Tesla Electric Cars at Two California Airports

September 28, 2013 Leave a comment

Hertz Adds Tesla Electric Cars at Two California Airports

Hertz Global Holdings Inc. (HTZ), adding more upscale autos to its fleet, said it will begin offering Tesla Motors Inc. (TSLA) electric cars at two airports in California. Hertz is introducing Tesla Model S and Roadster rechargeable cars to its fleet at Los Angeles and San Francisco airports, the Park Ridge, New Jersey-based company said today in a statement. Hertz didn’t say how many cars from Palo Alto, California-based Tesla will be available or when. The Tesla models expand on a lineup of higher-priced cars that Hertz has added to its fleet under its Dream Cars program, that includes Ferrari and Lamborghini cars. In July, Hertz won final regulatory approval for its $2.3 billion acquisition of Dollar Thrifty Automotive Group Inc. The merged companies compete with closely held Enterprise Holdings Inc. and Avis Budget Group Inc. (CAR). Tesla, which has seen its market value top $20 billion this year, is intent on becoming the world’s most profitable seller of battery-powered cars. The company plans this year to deliver 21,000 of its flagship Model S sedans, priced from about $70,000, and double that volume next year as sales in Europe and Asia expand.

To contact the reporters on this story: Craig Trudell in Southfield, Michigan, at ctrudell1@bloomberg.net;

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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