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Hertz Global To Buy 175,000 EVs From General Motors

·1 min read
  • General Motors Company (NYSE: GM) and Hertz Global Holdings Inc (NASDAQ: HTZhave entered into an agreement through which the former will sell up to 175,000 electric vehicles (EV) to the latter over the next five years.

  • The EVs include Chevrolet, Buick, GMC, Cadillac, and BrightDrop.

  • Over the agreement period, Hertz estimates that its customers could travel more than 8 billion miles in these EVs, saving approximately 3.5 million metric tons of carbon dioxide equivalent emissions compared to similar gasoline-powered vehicles traveling such a distance.

  • Hertz expects to begin taking delivery of Chevrolet Bolt EVs and Bolt EUVs in the first quarter of 2023.

  • Hertz aims to turn one-quarter of its fleet into electric by the end of 2024.

  • "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," said General Motors CEO Mary Barra.

  • Price Action: GM shares are trading lower by 5.34% at $39.18 on the last check Tuesday.

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