Hertz Global is gearing up a stacked electric vehicle fleet.
- General Motors announced that it is selling up to 175,000 electric vehicles to Hertz Global over the next five years.
- Starting in the first quarter next year, GM will start to supply electric vehicles such as the Chevrolet Bolt EV and Bolt EUV to the rental car company.
- This deal is a big move as Hertz moves to be more electric.
Why it’s important
As the demand for electric vehicles skyrockets, companies are jumping on quickly to start producing them.
Car rental companies always want to stay on trend with the newest vehicles, so it’s really no surprise that the newest additions are EVs.
After GM supplies Hertz with the Chevrolet Bolt EV and Bolt EUV, the company’s newest EV models will follow.
GM is expected to significantly increase its production of all-electric vehicles in the coming years, as North American output of the cars and trucks—as well as the battery cells used to power them—increases. The company plans to reach production capability of 1 million EVs in North America and China, each, by 2025, according to CNBC.
GM isn’t the first to strike a deal with the rental company. Tesla had an agreement for 100,00 vehicles and Polestar, a Volvo-backed electric vehicle startup, agreed on 65,000 which makes GM the largest of the three.
“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,” CEO Mary Barra said in a statement.
Backing up a bit
More than half of car buyers worldwide want an EV. The number of people wanting evs has hit a worldwide tipping point.The latest EY Mobility Consumer Index shows that 52% of people looking to buy a car want to buy an EV. This is the first time the number has exceeded 50%, representing a rise of 11 percentage points since last year.