In a deal with General Motors, Hertz has agreed to purchase up to 175,000 electric vehicles from the manufacturer in the next five years as it continues to expand its electric vehicle arsenal.
“It’s exciting that two iconic American companies that have shaped the evolution of transportation for more than a century are coming together to redefine the future of mobility in the 21st century,” Hertz CEO Stephen Scherr said.
“We are thrilled to partner with GM on this initiative, which will dramatically expand our EV offering to Hertz customers, including leisure and business travelers, rideshare drivers and corporates,” he continued.
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Over the period ending in 2027, Hertz is estimating that its customers could drive over 8 billion miles in these particular electric vehicles. The company says this will save about 3.5 million metric tons of carbon dioxide in emissions.
GM Chairwoman and CEO Mary Barra said, “Our work with Hertz is a huge step forward for emissions reduction and EV adoption that will help create thousands of new EV customers for GM.”
“With the vehicle choice, technology and driving range we’re delivering, I’m confident that each rental experience will further increase purchase consideration for our products and drive growth for our company,” she said, referencing the Chevrolet, Buick, GMC, Cadillac and BrightDrop vehicles included in the deal.
Hertz plans to electrify one-quarter of its fleet by 2024, according to the announcement. Currently, tens of thousands of electric vehicles are available to rent at its 500 locations in 38 states.
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Deliveries of Chevrolet Bolt EVs and Bolt electric utility vehicles are expected to begin within the first quarter of 2023. Afterward, deliveries are expected to increase rapidly.
