Hertz Plans to Order Up to 175,000 Electric Vehicles From GM in Next 5 Years
September 20 2022 - 12:55PM
Dow Jones News
By Chris Wack
Hertz Global Holdings Inc. and General Motors Co. said Tuesday
they have entered into an agreement in which Hertz plans to order
up to 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop
electric vehicles over the next five years.
Hertz and GM said they believe this plan is the largest
expansion of EVs among fleet customers and the broadest because it
spans a wide range of vehicle categories and price points, from
compact and midsize SUVs to pickups, luxury vehicles and more.
The agreement will include electric vehicle deliveries through
2027 as Hertz increases the EV component of its fleet and GM
accelerates production of EVs.
Over this period, Hertz estimates that its customers could
travel more than 8 billion miles in these EVs, saving 3.5 million
metric tons of carbon dioxide equivalent emissions compared to
similar gasoline-powered vehicles traveling such a distance.
The car-rental company's current goal is for one-quarter of its
fleet to be electric by the end of 2024.
Hertz expects to begin taking delivery of Chevrolet Bolt EVs and
Bolt EUVs in the first quarter of next year.
GM deliveries to Hertz are projected to increase as GM rapidly
scales up its EV production between 2023 and 2025, driven by the
opening of Ultium Cells battery cell plants in Ohio, Tennessee and
Michigan.
GM plans annual production capacity of 1 million EVs in North
America by 2025.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 20, 2022 12:40 ET (16:40 GMT)
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