Elon Musk says Tesla has not signed contract with Hertz. Hertz says deliveries have already started.

Chief executive Elon Musk seemed to question the big jump in Tesla stock that followed his car company's announced deal with Hertz, saying in a tweet that "no contract has been signed yet." But Hertz countered that deliveries have already started.

Analysts say it's hard to imagine what Musk would gain from undermining a deal with Hertz. If it were to pay $43,990 for a Model 3, as listed Tesla's website, the deal would be worth well over $4 billion to the carmaker. Foto: Pool/Reuters/Ritzau Scanpix

Musk had been responding to a tweet showing Tesla shares closed Monday up 8.5 percent. "You're welcome!" he wrote, "If any of this is based on Hertz, I'd like to emphasize that no contract has been signed yet."

He was referencing last week's announcement that Hertz would buy 100,000 Teslas by the end of 2022 to help the rental car company build out its electric vehicle fleet - news that catapulted Tesla's market capitalization above $1 trillion for the first time...

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