Candorium Free Members
Join Candorium to access the full article and more
Free Member Benefits:
✔
Comment & Reply✔
Newsletter Access✔
Follow Authors✔
Share via SMS Go Back
Hertz to buy 65,000 Polestar EVs, four months after buying Tesla vehicles
By Arghyadeep Dutta - Apr 04, 2022, 10:22 PM ET
Last Updated - Feb 21, 2024, 12:36 PM EST
Polestar will be in Europe this spring and late 2022 in North America and Australia
Sponsored
Hertz Global Holdings Inc (NASDAQ: HTZ) on Monday said that the rental car firm
would buy up to 65,000 electric cars from Volvo-backed Polestar over five years.
The EVs by the Swedish firm Polestar will be available
beginning this spring in Europe and late 2022 in North America and Australia.
Hertz, which recovered from bankruptcy last year, said that
it would initially order the Polestar 2 sedan.
The company aims to “become a leading participant in the
modern mobility ecosystem and doing so as an environmentally-forward company,” Hertz
CEO Stephen Scherr said in a statement.
Shares of the Florida-based rental car company jumped 10.7%
to $23.38 on Monday.
Rent out premium EVs
In October, Hertz announced
to purchase 100,000 EVs from Tesla Inc (NASDAQ: TSLA), primarily its entry-level sedan Model
3, and provided half of its new fleet to Uber Technologies Inc (NYSE: UBER) for renting.
Last month, the company added Tesla’s mid-size SUV Model Y
to its electric vehicle fleet.
Scherr said the latest order will help provide the renters,
corporate customers, and rideshare partners with a premium electric vehicle.
The Hertz partnership “will bring the amazing experience of
driving an electric car to a wider audience, satisfying a broad variety of our
mutual customers’ short- and longer-term mobility requirements,” Polestar CEO
Thomas Ingenlath said in a statement.
Picture Credit: Ars Technica
Sponsored
Read More from Market Analysis
Read More from Investing
Popular News
Latest News
