Hertz and General Motors have announced an agreement in which Hertz plans to order up to 175,000 Chevrolet, Buick, GMC, Cadillac, and BrightDrop EVs through 2027. The announcement comes as GM ramps up EV production (at Factory ZERO, for example), and Hertz is looking to expand the number of EVs in its fleet.
“It’s exciting that two iconic American companies that have shaped the evolution of transportation for more than a century are coming together to redefine the future of mobility in the 21st century,” said Stephen Scherr, Hertz CEO. “We are thrilled to partner with GM on this initiative, which will dramatically expand our EV offering to Hertz customers, including leisure and business travelers, rideshare drivers, and corporates.”
Expanding EV Footprint
As described by Hertz, the company wants one-quarter of its fleet electrified by the end of 2024. If all goes according to plan, Hertz said the company will offer “tens of thousands” of EVs for rent at 500 locations across 38 states. Hertz will begin receiving Chevy Bolt EVs and Bolt EUVs during the first quarter of 2023. Meanwhile, GM is planning for an annual production capacity of one million EVs in North America by 2025.
“Our work with Hertz is a huge step forward for emissions reduction and EV adoption that will help create thousands of new EV customers for GM,” said GM Chair and CEO Mary Barra. “With the vehicle choice, technology, and driving range we’re delivering, I’m confident that each rental experience will further increase purchase consideration for our products and drive growth for our company.”
Future Outlook
Over the next five years, Hertz estimates that its customers could travel more than eight billion miles in these EVs, saving approximately 3.5 million metric tons of carbon dioxide equivalent emissions compared to similar gasoline-powered vehicles.
