Escape from the electric car: Hertz switches back to gasoline and sells a third of its EV fleet

Car rental company Hertz announced that it is divesting about a third of its electric vehicle fleet rather than returning to investing in traditional cars. The surprise announcement came after he announced that he wanted to buy 100,000 Teslas in 2021.

Sales of 20,000 electric cars started last month and will continue through 2024. According to Hertz’s goals, the sale will help better balance supply against expected customer demand for electric vehicles.

Hertz offers 20 thousand electric cars for sale

Hertz initially set a goal of electrifying a quarter of its fleet by the end of 2024 but backtracked and said it would focus on matching supply and demand. As the Wall Street Journal noted, U.S. sales of electric vehicles rose last year, but the pace has slowed, causing many automakers to scale back their investment plans. Buyers are hesitant to switch to cars, worried that there won’t be enough room for charging or that their trips will be too limited due to battery range.

However, Hertz announced that it will continue to offer electric vehicles to customers and is working to increase the profitability of its remaining fleet by expanding its charging infrastructure and working with electric vehicle manufacturers to provide access to more affordable parts.

Source: Today IT