A Charge Point electric vehicle charging station sits ready for use in Bismarck on Feb. 19, 2024. (Michael Achterling/North Dakota Monitor)
Follow the money. When the incentives start to wane and the companies needing to save money on EV start to change direction
Rental car behemoth Hertz announced it will sell an additional 10,000 of its electric vehicles from its existing fleet, on top of the initial intention to sell 20,000 electric models. It has been a complicated time at Hertz, as the high maintenance costs and depreciation of its EVs have resulted in a $392 million loss in the first quarter on revenues of $2.1 billion. The original plan was to buy 100,000 Tesla cars on the rental car industry’s rebound following the worst of the pandemic. Now, obviously, this is only the second-worst longstanding financial relationship Hertz Rental Car has found itself in.
Comments