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Hertz is selling its EVs because it botched the rollout for ride-share drivers
Hertz said in an SEC filing that it would be selling 20,000 of its EVs and replacing them with fossil fuel-powered vehicles.
Uber was pushing drivers toward EVs in a number of markets, cities like New York were enticing them to make the switch, and they had attractive operating costs relative to gas-powered cars. Uber drivers also rented the cars for longer periods of time, Hertz said, meaning that fewer employees were needed to support a given number of vehicles. “Electric vehicles open the door to our growing presence in ride-share, where electrification is a fast approaching requirement not merely an option, in a channel where we are uniquely positioned,” Hertz CEO Stephen Scherr said in the company’s Q3 earnings call.
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