3 Electronic Stocks Rally toward a 100,000-Tesla Order from Giant Rental Car Firm Hertz

Three electronic stocks rose in Tuesday trade following news last night that Hertz, a giant American car rental company, had placed an order for 100,000 Tesla vehicles to support it build out its electric vehicle rental fleet by the end of 2022.

In the morning session of Tuesday, October 26, 2021, the share price of KCE Electronics Public Company Limited (KCE) rose ฿2.50/share or 3.01% to ฿85.50/share with a trading value of 2,329 million baht.

The share price of Nex Point Public Company Limited (NEX) rose ฿0.25/share or 2.82% to ฿9.10/share, with a trading value of 278 million baht.

The share price of Hana Microelectronics Public Company Limited (HANA) rose ฿1.50/share or 1.89% to ฿81.0/share, with a trading value of 1,169 million baht.

The rental car company Hertz announced on Monday (October 25) to buy 100,000 Tesla Model 3 by the end of 2022, creating the largest EV rental fleet in North America and one of the largest in the world. Tesla could earn up to US$4.2 billion, or THB139 billion, from this megadeal.

This announcement sent electronic and battery stocks soaring in morning trading in Asia-Pacific markets.

DBS Vickers Securities (DBSVS) stated that Tesla’s largest-ever order of 100,000 units has fueled bullish sentiment in electric vehicle (EV) stocks such as EA, NEX, BPP, GPSC, and BCPG, as well as electronic stocks such as KCE and HANA.