Global car rental company Hertz plans to expand its electric vehicle (EV) offerings by up to 175,000 General Motors EVs over the next five years, in what the companies call the “largest expansion of EVs among fleet customers.”
The deal spans a wide range of vehicle categories and price points, from compact and midsize SUVs to pickups and luxury vehicles, featuring EVs from Chevrolet, Buick, GMC, Cadillac, and BrightDrop.
The agreement will encompass EV deliveries through 2027 as Hertz increases its EV fleet and GM accelerates production of EVs broadly, according to a company statement. Over this period, Hertz estimates its customers could travel more than 8 billion miles in these EVs, “saving approximately 1.8 million metric tons of carbon dioxide equivalent emissions compared to similar gasoline-powered vehicles traveling such a distance.”
“It's exciting that two iconic American companies that have shaped the evolution of transportation for more than a century are coming together to redefine the future of mobility in the 21st century,” said Stephen Scherr, Hertz CEO.
“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 GM Chair and CEO Mary Barra.
Hertz expects to begin taking delivery of Chevrolet Bolt EVs and Bolt EUVs in the Q1 2023. The GM deliveries to Hertz are expected to increase as the automaker rapidly scales its EV production between 2023 and 2025, driven by the opening of Ultium cells battery cell plants in Ohio, Tennessee, and Michigan.
Hertz aims to create the largest rental fleet of EVs in North America, with rental EVs available at 500 company locations across 38 states. Its current goal is for one-fourth of its fleet to be electric by the end of 2024.