Hertz to Buy Up to 175,000 EVs From GM

Category
Rental/carshare/subscriptionEV
Priority
Priority
Release date
September 20, 2022

Hertz to Buy Up to 175,000 EVs From GM

Move reflects growing demand from rental-car companies for green vehicles that can appeal to both customers and investors

A Summit White 2023 Chevrolet Bolt EV and a Gray Ghost Metallic 2023 Chevrolet Bolt EUV parked in front of a Hertz rental location in Michigan. Hertz will begin taking deliveries of the Chevrolet Bolt EV and Bolt EUV in the first quarter of 2023.
A Summit White 2023 Chevrolet Bolt EV and a Gray Ghost Metallic 2023 Chevrolet Bolt EUV parked in front of a Hertz rental location in Michigan. Hertz will begin taking deliveries of the Chevrolet Bolt EV and Bolt EUV in the first quarter of 2023.

Hertz Global Holdings Inc. HTZ 2.73%▲ has agreed to buy up to 175,000 electric vehicles from General Motors Co. GM -0.60%▼ over five years, the latest example of rental companies bulking up on EVs.

The companies said Tuesday that Hertz would buy EVs from across GM’s four main brands in North America—Chevrolet, Buick, GMC and Cadillac. The first orders would be for Chevy Bolt EVs starting early next year, the companies said.

Car-rental companies have been ordering electric cars to differentiate their fleets and add to their premium offerings. It also helps them to burnish their environmental, social and governance, or ESG, credentials with investors.