Hertz CEO steps down following costly failed EV push

[Elderberry]

Blaze Media by Candace Hathaway 3/18/2024

Hertz Global Holdings Inc. announced that its chief executive officer, Stephen Scherr, will step down from his position at the end of the month, according to a Friday press release.

Earlier this year, the rental car company moved to trim its electric vehicle inventory despite previously setting targets to transition 25% of its fleet to EVs by the end of 2024. Citing costly repairs, Hertz stated that it would sell 20,000 vehicles, or roughly one-third of its global EV fleet, and reinvest the funds in gas-powered alternatives.

The company agreed to purchase 100,000 Teslas by the end of 2022 and 65,000 Polestar vehicles over the next several years. Hertz has since re-evaluated its EV investments.

In January, Hertz's used car website listed more than 700 EVs for sale, including Tesla Model 3 and Model Y vehicles, BMW's i3, and Chevrolet's Bolt. The firm aims to have all of the cars sold by 2025.

More: https://www.theblaze.com/news/hertz-ceo-steps-down-following-costly-failed-ev-push

[DefiantMassRINO]

If you're renting a car, especially at an airport, you need a vehicle that is not tethered to an imaginary network of charging stations.

Electric vehicles make more sense for local owner use, local delivery use, and other repeatable short-distance travel.

After I caught Covid-19/SARS2 on a cruise in June 2023, my wife and I couldn't fly home.  We had to rent a car in Ft. Lauderdale and drive up I-95 for 4 days to get back to Boston.  We wouldn't have been able to make that trip in an Electric Vehicle.

Electric Vehicles have a place, but they are NOT a replacement for all internal combustion engine vehicles.