2023-11-20 06:26:39
Published on Nov. 20, 2023 at 7:26 a.m.
The electric car is experiencing setbacks at Hertz. In October 2021, Hertz placed a giant order for 100,000 Model 3s from Tesla, marking a sensational entry into electric vehicles. Two years later, the CEO of the car rental company admitted that the strategy had once more cost him, in the last quarter, “several points” of operating margin (adjusted Ebitda).
Within the rental company’s global fleet (590,000 cars), around 11% are electric cars, including 80% from Tesla (Model 3 and Model Y). On its website, the balance is shared between a handful of models, from the Chevrolet Bolt to a Kia model or the Polestar.
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