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Hertz expands investments in electric fleet with Polestar deal – News-Press

Electric vehicle savings explored

Driving an electric vehicle can save you a lot of money on gas… but how much money does it really save you? Well, it depends.

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Electric vehicle savings explored

Driving an electric vehicle can save you a lot of money on gas… but how much money does it really save you? Well, it depends.

Buzz60, Buzz60

Hertz is amping up its investment in electric cars.

On Monday, Estero-based Hertz Global Holdings — parent of The Hertz Corp. — announced plans to purchase up to 65,000 electric vehicles over five years through a partnership with Polestar.

Polestar is a Swedish electric car maker.

Hertz expects to start offering the first batch of vehicles for rent in Europe this spring, with an anticipated rollout of cars in North America and Australia late this year.

The partnership with Polestar builds on Hertz’s announcement last October of its intent to offer the largest electric fleet in North America — and one of the largest in the world.

Initially, it announced plans to order 100,000 Teslas by the end of 2022, with intentions to add thousands of its own charging stations across its global network to support them.

Hertz recently added Tesla Model Ys to its rental lineup.

In addition to renting electric cars to its bread-and-butter business and leisure customers, Hertz is supplying them to rideshare drivers, working for such companies as Uber and Lyft, as a way to further its mission to accelerate electrification.

Making a comeback: Travel demand, strategic partnerships paying off for Hertz

Previously: Estero-based Hertz puts a new leader in the driver’s seat

“Today’s partnership with Polestar further builds on our ambition to become a leading participant in the modern mobility ecosystem and doing so as an environmentally-forward company. By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers and rideshare partners a premium EV product, exceptional experience and lower carbon footprint,” said Hertz’s CEO Stephen Scherr in a statement.

Shares rose on the positive news. 

As for Polestar, it continues to ramp up its electric car production.

The Tesla rival reported that it nearly tripled its vehicle production in 2021 and it anticipates another doubling this year.

Polestar expects its volumes to reach 290,000 vehicles per year by 2025. 

The company plans to list on …….

Source: https://www.news-press.com/story/money/2022/04/04/hertz-investing-more-money-its-electric-fleet-new-partnership-swedish-manufacturer/7271154001/

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