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Hertz will stop buying EVs from Polestar, too
Hertz is backtracking its EV plans.
Hertz continues to backtrack on its commitment to purchase more electric vehicles for its rental car fleet, as the Financial Times reports that the company has paused plans to acquire more EVs from Swedish automaker Polestar. Price cuts (mostly from Tesla), higher depreciation than expected, and spiraling repair costs have made EVs a bad business deal for Hertz. It’s a disappointing turn for Hertz, which had previously set a target for 25 percent of its fleet to be electric by the end of 2024.
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