Hertz buys 175,000 electric vehicles from GM




CNN business

Hertz has agreed to buy 175,000 electric vehicles from General Motors over the next five years. It followed the announcement that Hertz would buy 100,000 electric cars from Tesla and another 65,000 from Volvo spin-off brand Polestar.

Hertz plans to buy vehicles from GM’s four North American passenger vehicle brands – Chevrolet, Buick, GMC and Cadillac. Purchases will include a variety of vehicle types and classes, such as small and midsize SUVs, cars, and pickup trucks. Most of these models are not yet in production, but GM has begun production of the electric Cadillac Lyriq SUV and the electric GMC Hummer EV truck. Three new electric Chevrolet models have been introduced this year as well: the Chevrolet Silverado pickup, the Blazer EV SUV and the Equinox EV SUV are expected to go on sale next year.

Hertz may also bring GM’s Brightdrop delivery vans to its rental fleet.

Hertz will take delivery of GM’s first electric vehicles — the Chevrolet Bolt EV and EUV hatchbacks and crossovers — early next year. After that, deliveries of GM electric vehicles to Hertz will increase as the automaker ramps up production of electric vehicles. GM hopes to be able to produce one million electric vehicles annually in North America by 2025.

Hertz Global Holdings operates the Dollar and Thrifty rental car brands and Hertz. These GM vehicles will only be included in the North American Hertz rental fleet. A Hertz spokeswoman declined to say how large the North American Hertz rental fleet currently is. There are 500 Hertz rental locations spread across 38 US states, the company said.

GM has said it plans to sell only zero-emission vehicles by 2035, which could include both hydrogen-powered and battery-powered vehicles.

Hertz, on the other hand, plans to have a quarter of its entire rental fleet electric by 2024.