Hertz has less than half of the Tesla vehicles in its fleet it planned to have by the end of 2022, according to a filing on Tuesday detailed by Bloomberg.
In the filing, Hertz said its rental fleet had 428,700 vehicles last year, with 11 percent of those being Teslas. This equates to under 50,000 Tesla units, which is less than half of the company’s targets ending 2022, in which it originally hoped to have 100,000 of the electric vehicles (EVs).
The deal was initially announced in October 2021 ahead of initial rentals becoming available the following month. At the time, Bloomberg reported that the contract was worth $4.2 billion.
Hertz said that its EV strategy is reliant upon the company’s “ability to secure adequate vehicle supply within the time frame we, and our customers, expect.”
Tesla’s price changes over the past year are another factor that could have affected its ability to purchase the vehicles.
Since adding Tesla and other EVs, Hertz noted that its profits have been surging, and the company has yet to even launch the EVs in markets beyond the U.S.
The news comes after Hertz announced plans to add EVs from Polestar and GM, and after the company launched a new community-based EV adoption program in Denver.
Tesla Rental Demand is ‘Very, Very Strong,’ Says Hertz CEO https://t.co/n545OOukzW
— TeslaNorth.com (@RealTeslaNorth) September 28, 2022
