COSTS TOO HIGH: HERTZ SELLS 20,000 ELECTRIC VEHICLES

By Anne Bourgoin

Rental company Hertz has just announced in a press release that it is divesting 20,000 electric vehicles (EVs) from its U.S. fleet in order to buy back gasoline-powered vehicles.

The company points out that the costs generated by collisions and damage to EVs were too high compared to gasoline-powered vehicles. In 2023, Hertz was forced to limit the speed and power of EVs, offering them only to experienced drivers in order to mitigate the risks.

Tesla and Polestar will see their orders reduced as Hertz gives up its goal of electrifying 25% of its fleet. This decision will lead to a drop in the price of EVs on the second-hand market, with unsold stocks on the rise.

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