GGPIW - Hertz and Polestar announce global strategic partnership to accelerate electric vehicle adoption
Car rental company Hertz (NASDAQ:HTZ) is rising 2.4% premarket after the firm and electric vehicle maker Polestar announced a new global partnership that includes purchasing up to 65,000 electric vehicles (EVs) over five years. Financial terms were not disclosed. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia. The partnership with Polestar builds on Hertz's announcement last October to offer its customers the largest EV rental fleet in North America and one of the largest in the world. In addition to making the fleet available to its business and leisure customers, Hertz is extending EVs to rideshare drivers as a way to further accelerate electrification. Hertz plans to have its electric vehicles available for its leisure and business customers, as well as ride-share drivers. Polestar reported that it nearly tripled volumes in 2021 and anticipates more than doubling volumes again this year and expects
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Hertz and Polestar announce global strategic partnership to accelerate electric vehicle adoption