Article Image

IPFS News Link • Transportation

Hertz Begins Dumping 20,000 EVs In Shift Back To Petrol Cars

• Zero Hedge

In 2021, rental car company Hertz Global Holdings Inc. tapped Tom Brady to promote its massive push to electrify its fleet. 

At the time, Hertz placed a huge order for 100,000 Tesla Model 3 vehicles.

Fast forward to late October, when Hertz Chief Executive Stephen Scherr told investors on a third-quarter earnings call that the company would start reducing its EV fleet because of high repair costs compared to the rest of the fleet, which has hurt its bottom line. "EV's will be slower than our prior expectations," he said.