General Motors (GM) continues its push into electric vehicles,...

General Motors (GM) continues its push into electric vehicles, with Hertz (HTZ) announcing plans to order up to 175,000 EVs from GM over the next five years.

Hertz says it plans to order Chevy, Buick, GMC, and Cadillac vehicles, as well as commercial vehicles. Chevy Bolt deliveries are expected to begin in the first quarter of 2023. The move reflects growing demand from its customers for green vehicles.

Hertz ordered about 100,000 vehicles from Tesla back in October. That sent Tesla (TSLA) shares up more than 12% on the news. Last spring, Hertz also agreed to purchase 65,000 electric cars from Swedish automaker Polestar.

GM hopes to sell 1 million EVs annually in North America by 2025. If the Hertz deal is spread out evenly over the next few years, GM will have met about 4% of its annual goal. Hertz says it plans for one-quarter of its fleet to be electric by the end of 2024.

Shares of GM are slightly higher in pre-market trading, though they've lost about one-third of their value so far this year.

(source: Investopedia daily email.)

EVs will never take off in austrailya I'm told by several sincere posters.

well Aussies often follow th Yanks..... we're off to the EV revolution yeh.....