Tesla In Line To Get New York City Contract For Supply Of Hundreds Of EVs

Tesla Inc TSLA could bag a contract from the city of New York to supply a fleet of its Model 3 electric vehicles, Electrek reported, citing a notice.

What Happened: The $12.4 million contract could imply up to 300 electric vehicles, provided the entire contract is awarded to Tesla. 

The proposed contract is up for a public hearing on Dec. 16. The contract would be signed for a period five years from when awarded.

The Fremont Police Department last year in a report said it saved $4,000 a year after it put to test a second-hand 2014 Tesla Model S 85. The vehicle was reportedly put through its paces in regular patrol testing and put on the road in 2019.

See Also: Tesla Model 3 Saved Fremont Police $4,000 In A Year

Why It Matters: New York is among a string of police departments in the U.S. considering replacing gas-powered patrol cars with electric fleets. 

New York Mayor Bill de Blasio months ago announced a $75 million investment in electric vehicles. The plan included 300 electric vehicles to replace gas-powered cars.

Price Action: Tesla shares closed 6.10% lower 1,003.80 a share on Thursday.

Photo: Courtesy of Tesla