Hertz Wants to Lead Adoption of EVs, Starting with Tesla Deal: CEO

After Hertz’s $4.2 billion USD deal to buy 100,000 Tesla vehicles, the company’s head is hoping to help lead the efforts to move towards electric vehicles (EVs) with the purchase.

Hertz Interim CEO Mark Fields said the company’s strategy was geared towards being the company to “lead the adoption of EVs” on a recent segment of Yahoo Finance Live. Fields was formerly the CEO of Ford and was thought to have helped set up Ford’s move towards EVs before leaving the company in 2017.

In a statement, Fields said, “We are excited about the Tesla relationship. It’s all wrapped around our strategy to lead the adoption of electric vehicles.”

Fields continued, “So we are starting a great relationship with Tesla. We are also ready to partner with many other manufacturers to extend our lead in the adoption of electric vehicles. But clearly, we are going to work I think very collaboratively with Tesla. Importantly, our consumers really want to drive Teslas and we want to be there to be able to provide those products for them. We are very excited about the relationship going forward.”

Tesla CEO Elon Musk followed up on the initial deal saying that the company was seeing high demand, emphasizing that a contract had not yet been signed.

The original announcement held that the vehicles would be delivered by the end of 2022, though it’s not clear how precise that timeline is as of yet.

Last week, it was discovered that Hertz and Tesla are still discussing the timing of delivery for the 100,000 units, though Hertz Tesla rentals already began on November 1, after Fields said the company was already receiving cars from Tesla.