TECH - Another Blow To Tesla? Hertz's EV Disposal Plan Jumps By 10K As Car-Rental Company Aims For 95% Gas-Powered Fleet By Year-End | Benzinga
Car rental company Hertz Global Holdings (NASDAQ:HTZ) is now looking to remove 30,000 electric vehicles from its fleet, significantly higher than the number announced earlier this year.
What Happened: Earlier this year, Hertz announced that it is looking to reduce its EV fleet by 20,000 units through 2024, citing high repair costs as the driving factor. However, at the company’s first-quarter earnings call on Thursday, company COO Justin Keppy said that it has increased the EV disposal plan by another 10,000 units.
As of the end of the first quarter, the company had already sold about 10,000 EVs, he said, on which it incurred vehicle depreciation costs of ...