Hertz, after announcing plans to buy 100,000 Teslas and 65,000 Polestar EVs, now intends to sell 20,000 due to high collision repair costs and lower consumer demand.
The unique complexities of EVs, such as charging challenges and unfamiliar interfaces, contribute to reduced rental demand. While Hertz acknowledges these hurdles, it commits to growing its EV mobility strategy, expanding charging infrastructure, and collaborating with manufacturers for cost reductions.
Despite the EV divestment, Hertz emphasizes continuing to offer a diverse vehicle selection. With Tesla Model 3s priced at just over $20,000, Hertz aims to balance its fleet mix by selling EVs and reinvesting in new gas-powered vehicles.
