I have worked in some of the finest engineering teams in the world. A team which invented inertial sensors which the United States Patent Office refused to grant patent rights because disclosing how the resolution was obtained would be a national security breach. But I have NEVER come close to this godzilla from South Africa called Elon Musk. He just sold 100,000 cars in one afternoon!

He is the generation’s finest mind and the greatest innovator of the current 21st century. Elon Musk is peerless. No one comes closer. As the Falcon 9 left the solid bounds of mother earth to touch the face of the ecclesiastical heavens, those dreams became a reality. And now he is changing the ordinance of the automotive sector, transforming markets with uncommon vision. Nations rise when pioneering entrepreneurs emerge.

America won the biggest lottery the day that South African kid flew across the Atlantic and possibly never to return. I am confident America will not forget that history of Musk: prepared in Africa, perfected in America, for the good of the world.

Musk – may Heaven bless more with more like you.

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Comment: Elon Musk is truly a visionary and it is unlikely that the world get to be blessed by many of his likes in one generation. However, sealing a deal to deliver 100,000 vehicles to Hertz by the end of 2022 on its own, is not a major deal, that approximately 274 vehicles per day. Toyota sold 27,000 vehicles daily in 2020. Elon himself was surprised of its impact on Tesla stock. Because Tesla has never had a demand problem, it has always been production or manufacturing.

My Response: You made my point. Toyota sells 10.5 million cars yearly. Tesla sells about 500k. But those 10.5m are paid and gone but the 500k will continue to earn money via subscriptions for eternity provided someone is driving them. Tesla through those 100k cars sold 100k software licenses to users. Do not compare Tesla with other car companies. Compare it with Microsoft, IBM, etc. Tesla is a software company which sells cars as its licenses are not transferable when you sell the car.

The 2021 Tekedia Institute Career Week continues. Our Faculty speaking today is oladapo akinloye, a Director with Fasttrack Academy. He is an amazing HR thought leader. Our Career Week focuses on career design and planning, and not just jobs.

Yesterday was electrifying with Elizabeth (Ayeni) Nyah who took us on a big excursion on the mechanics of career, and building resilience, in a changing market; it is recorded in the Board.

2021 Tekedia Career Week and Tekedia Innovation Week are exclusive for those who participated in any Tekedia program in 2021. Simply use your login for the Zoom links here.

Tekedia Institute >> learn from the best.

A new age has indeed started and Elon Musk is leading it. Yes, car-renting giant, Hertz, has ordered 100,000 units of Tesla vehicles, in a deal valued at $4.2 billion.  With that, Tesla has joined the $1 trillion market cap club. This is legendary. With this move, I expect many car companies to begin to close their fossil-fuel units and focus on electric vehicles. Why? Car companies watch car-renting entities which are major buyers, and now those firms are going EV, the memos have been delivered.

Hertz has ordered 100,000 Tesla cars in a $4.2 billion deal aimed at expanding its electric vehicle fleet, the company announced on Monday. The deal will run until the end of 2022, and includes new EV charging infrastructure across the company’s global operations.

It is the first major step the rental company is taking since it escaped bankruptcy orchestrated by the pandemic. Tesla shares rose more than 9% at the news, selling above $1,000 for the first time and pushing the company across the $1 trillion capitalization threshold. Also, Elon Musk fortune jumped by $28.5 billion to $281 billion.

This is good business because if you use Hertz now, all you need to focus is your rental cost with gasoline largely out. Sure, you may still have to pay a small fee for the charging but that would be marginal.

Dangote Refinery. Dangote Refinery…. It is looking like a very bad call. Yes, unborn tomorrow but died yesterday! I think the only option would be for Dangote to go and acquire the gasoline car unit of Ford or Toyota because they are going to part ways with those ‘pasts” in the next few years. That would be the only way to extend the usage of gasoline cars. If not, if these car companies move on, Nigeria and indeed Africa do not buy a lot of new cars for them to waste efforts making fossil-powered cars for us.

That brings me to the future of Nigeria’s economy and the optimism from the Central Bank of Nigeria. If Elon Musk and other innovators are disintermediating Dangote Refinery, potentially making this a very bad business, the saving moment this refinery will bring to Nigeria and Naira will not be sustained. Why? Not many will be using hydrocarbons to move around; electrons win the future.

Of course, Dangote Refinery is not just about making gasoline. Yet, you will agree that the bulk of the revenue will come from gasoline. Nigeria must not just wait for this refinery as it may have to save itself first before it can save Nigeria and its Naira!

Hertz Orders 100,000 Tesla Vehicles in a $4.2 Billion Deal, Shooting Tesla to $1 Trillion Valuation

Hertz has ordered 100,000 Tesla cars in a $4.2 billion deal aimed at expanding its electric vehicle fleet, the company announced on Monday. The deal will run until the end of 2022, and includes new EV charging infrastructure across the company’s global operations.

It is the first major step the rental company is taking since it escaped bankruptcy orchestrated by the pandemic. Tesla shares rose more than 9% at the news, selling above $1,000 for the first time and pushing the company across the $1 trillion capitalization threshold. Also, Elon Musk fortune jumped by $28.5 billion to $281 billion.

Hertz also said it’s teaming up with seven-time Super Bowl champion and entrepreneur Tom Brady to showcase how it is making EV rentals fast, seamless and more accessible, as the company accelerates its commitment to lead the future of mobility and travel.

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Hertz interim CEO Mark Fields. “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.”

Bloomberg which broke the news, reported that Hertz is planning to electrify nearly all of its roughly 500,000 cars and vans, with Tesla’s order making up a sum of the plan.

Hertz made a comeback from bankruptcy through a $5.9 billion investment led by Knighthead Capital Management and Central Management. The press statement issued by the company said the move is driven by growing love for electric vehicles.

It noted that 40 percent of U.S. consumers say they are likely to consider an electric vehicle the next time they are in the market for a new vehicle, according to Pew. Global EV sales skyrocketed 200 percent in the last year and will likely continue to grow with commitments from global automakers to increase EV sales.

Environmental concern has been a major drive for the shift to EVs. With the current US administration pro green, electric vehicles have gained more popularity recently, which is also boosted by high efficiency, positive user experience, battery breakthroughs and rapidly expanding charging networks.

Hertz said customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in U.S. major markets and select cities in Europe, beginning in early November and expanding through year end.

To kick the EV shift off, Hertz also is installing thousands of chargers throughout its location network. Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations throughout the U.S. and Europe. It will also offer a premium and differentiated rental experience for the Tesla EVs. This includes digitized guidance to educate customers about the electric vehicle to get them on their way quickly, and coming soon, an expedited EV rental booking process through the Hertz mobile app, the company said.

The Tesla order means EVs will make up more than 20 percent of Hertz global fleet and is expected to be supported by a combination of Level 2 and DC fast charging in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023, according to the company’s press statement. However, Hertz said these ambitions could be affected by factors outside of Hertz’s control, such as semiconductor chip shortages or other constraints.