Hertz plans to order 175,000 GM electric vehicles by 2027 According to Reuters

© Reuters. FILE PHOTO: Signage is seen at Hertz rental car at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly

By David Shepardson

(Reuters) – Car rental company Hertz Global Holdings (OTC:) plans to order 175,000 electric vehicles from General Motors (NYSE:) over the next five years, the rental carmaker’s latest move to supplement zero-emission models.

Hertz and GM on Tuesday announced a joint agreement in which the rental car company will order Chevrolet, Buick, GMC, Cadillac and BrightDrop EVs through 2027. Hertz expects to begin deliveries of the Chevrolet Bolt. EV and Bolt EUV in early 2023.

GM CEO Mary Barra said in a statement that the automaker’s work “with Hertz is a huge step forward in emissions reduction and EV adoption that will help create thousands of new EV customers for the company.” GM.”

Hertz’s current goal is for a quarter of its fleet to have electricity by the end of 2024. In April, Hertz said it would buy up to 65,000 electric vehicles over five years from Swedish electric vehicle maker Polestar and in October 2021, Hertz announced its intention to buy 100,000 electric cars from Tesla (NASDAQ:), mostly the electric carmaker’s Model 3.

GM’s deal “spans a wide range of vehicles and price points – from small and midsize SUVs to pickups and luxury vehicles,” the companies said.

Hertz estimates its customers can travel more than 8 billion miles with these EVs and save about 3.5 million tons of carbon dioxide equivalent emissions compared to gasoline-powered vehicles.

Hertz CEO Stephen Scherr said the deal “will significantly expand the offering of electric vehicles to Hertz customers, including business and leisure travelers, ride-sharing drivers and businesses. “

Barra said she believes “every rental experience increases purchase consideration for our products and drives growth for our company.”

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