Hertz’s EV Sell-Off Sends Chills Down Industry’s Spine

January 19, 2024 15:06:02

After various legacy automakers announced plans to scale back their previously ambitious electrification plans, car-rental giant Hertz has revealed that it is also selling off a portion of its EV fleet. The Florida-based car-rental company has revealed that it will sell one-third of the electric cars in its EV fleet (around 20,000 battery electric cars) and invest funds in internal combustion engine (ICE) cars.

Even though electric cars theoretically cost less to maintain compared to fossil-fuel-powered cars, Hertz executives noted in a…

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