In an interesting turn of events, Hertz is selling 20,000 EVs to buy gasoline cars instead.Hertz had big EV ambitions back in 2021 and wanted more than 20% of its rental fleet to be electric by 2022. During this time, it placed an order for 100,000 Tesla Model 3 sedans as well as an order for 65,000 Polestar 2s.Towards the end of 2023, Hertz had a long list of reasons as to why it was pivoting back to gas, including:EV price cuts in 2023 resulted in increasing vehicle depreciation expenses and negatively impacted salvageable costsRental EVs were damaged and crashed more oftenEVs faced higher cost of repairs, especially TeslasHertz expects depreciation of US$245 million for its EV assets in its Q4 2023 financial results. Ouch, that Hertz.9.
interesting I wonder who will be next always two sides to a story
In an interesting turn of events, Hertz is selling 20,000 EVs to...
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