Hertz to Buy Up to 175,000 GM Electric Vehicles–Through 2027
Hertz and General Motors announced a partnership on Tuesday that will see up to 175,000 electric vehicles purchased from the latter.
The agreement will see up to 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop EVs purchased through 2027, offering a wide array of choices for customers.
According to Hertz, it estimates the new EV fleet should help saving roughly 3.5 million metric tons of carbon dioxide equivalent emissions, compared to gas cars, through 8 million miles traveled.
“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,” said Stephen Scherr, Hertz CEO, in a statement. “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.”
“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,” said GM Chair and CEO Mary Barra, in a statement. “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.”
Hertz says it is investing to create the “largest rental fleet of EVs in North America.” Currently there are over “tens of thousands” of EVs available to rent at 500 Hertz locations across 38 states. By the end of 2024, Hertz wants to have 25% of its fleet be electric.
In Q1 2023, Hertz says it expects to take delivery of Chevrolet Bolt EVs and Bolt EUVs. GM says it will scale EV production between 2023-25, assisted by the opening of its Ultium Cells plants in Ohio, Tennessee and Michigan. By 2025, GM says it plans to make 1 million EVs per year in North America.
Hertz continues to electrify its fleet. First, it launched a $4.2 billion agreement with Tesla, expanded to Polestar and Ford, and now GM. Good news for electric vehicles.