Hertz dumping more of its EVs than originally planned

a white sports car parked in a showroom


Reports indicate Hertz,the rental car company, is planning to unload thousands more of its fleet of electric vehicles than originally planned.

You might remember how the firm announced last year it planned to sell some of its EVs. Now it plans to sell another 10,000 of the vehicles even though Hertz had vowed last year to purchase 100,000 Teslas.

But Hertz learned the hard lesson that EVs are a strong investment, especially when it comes to the car rental business. Autoweek reported Hertz will sell 30,000 EVs this year following a $392 million first quarter loss. Losses for the remainder of the year could be greater as some reports believe the EV experiment will cost Hertz as much as $440 million.

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