Hertz Paces Itself on EV Fleet Plans Due to Higher Costs, Sourcing Issues

Hertz is slowing down its plans to electrify its fleet and may not reach goal of 100K EVs.

Slower EV in-fleeting has lowered Hertz's profit margins due to higher depreciation and repair costs.

80% of Hertz's 50K EV fleet is Tesla vehicles; working with Tesla to address performance and damage issues.

Moving some EVs from ridesharing to leisure rentals also impacted margins.

Hertz still committed to EV transition but will pace itself; may source EVs from other automakers to reduce costs.