Hertz has agreed to order from GM up to 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop electric vehicles over the next five years, the companies announced Tuesday. The GM brands would join Tesla and Polestar as EV options Hertz plans to bring into its fleet.
The rental car company expects to begin to receive Chevrolet Bolt EVs and Bolt electric utility vehicles in the first quarter of 2023, with the rest of the deliveries to continue through 2027 as GM accelerates production, according to the companies.
The move “will dramatically expand our EV offering to Hertz customers, including leisure and business travelers, rideshared drivers and corporates,” Hertz CEO Stephen Scherr said in a statement. The company is aiming for one-quarter of its fleet to be electric by the end of 2024.
Scherr noted in Hertz’s second-quarter earnings call that the company has about 20,000 active Tesla and Polestar EVs in its fleet, and that is was in negotiations with other original equipment manufacturers “to purchase EVs with attractive price points.” Its current EVs are available at about 500 Hertz locations across 38 states, according to the company.
Further, during a prior earnings call, Scherr noted that its EVs have “great appeal” to corporate clients, and his predecessor former interim CEO Mark Fields said that corporates are willing to pay a premium for these vehicles.
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