Detroit | Hertz plans to sell a third of its US electric vehicle fleet and reinvest in petrol-powered cars due to weak demand and high repair costs for its battery-powered options.
The sales of 20,000 EVs began last month and will continue over the course of this year, the rental giant said on Thursday US time in a regulatory filing. Hertz will record a non-cash charge in its fourth-quarter results of about $US245 million ($366 million) related to incremental net depreciation expense.
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