Hertz Axes 20,000 EVs Over Low Demand
In yet another blow to the Biden administration’s attempts to force a “green” (read: extremely not green) energy “transition” as part of the president’s crusade to end ‘fossil fuels’, the Hertz rental car company has announced that it’s abandoning its electric vehicles and pivoting back to gasoline-powered cars.
On Thursday, Hertz said it was selling off 20,000 of its electric vehicles —roughly one-third of its EV fleet — and will replace them with gas-powered vehicles in its for-rent fleet.
As Axios reported, the company cited the high cost of repairing its EVs as part of its decision to pivot back to good ol’ gasoline vehicles.
⚠️ JUST IN :
*HERTZ TO SELL ABOUT 20,000 ELECTRIC VEHICLES FROM U.S. FLEET DUE TO LOW DEMAND AND HIGHER COSTS
*HERTZ TO USE A PORTION OF THE MONEY RAISED TO BUY GAS POWERED CARS$HTZ pic.twitter.com/mjbCm1OVg8
— Investing.com (@Investingcom) January 11, 2024
As Axios’ report reminded, “[t]he move marks an abrupt reversal by Hertz, which in 2022 announced plans to buy 165,000 EVs from Tesla and Volvo unit Polestar” and said the move means “a $245 million loss” for Hertz.
In 2023, Hertz boasted that it was being recognized by the Biden administration for its “efforts to expand access to electric vehicles across the country,” claiming demand for EV rentals was “growing.”
This morning, @Hertz was recognized by The White House for our efforts to expand access to electric vehicles across the country. Demand for EV rentals is growing and we’re here to help our customers electrify their travels. #HertzLetsGo #HertzEV https://t.co/rLJa0lmHG8
— Hertz (@Hertz) March 30, 2023
In a report on the decision, Reuters noted that Hertz’s pivot away from plug-ins is “another sign that EV demand has cooled,” undercutting the company’s plan to have a quarter of its fleet made up of electric vehicles.
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Tom
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Most of these companies don’t have half a brain. They do the dumbest things like using EVs in the first place.
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Howdy
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I remember warnings about diesel vehicles lining the roads because nobody wanted them. Perhaps it is the EV that will take on that role?
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Dave
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EVs, Unsafe at any Speed!🔥🔥🔥
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