Hertz to order up to 175,000 electric vehicles from General Motors, including BrightDrop vans • CableFree TV

Published by
Peter Kavinsky

Environmentally conscious car hirers can soon expect electric vehicles from GM Buick, Chevrolet, Cadillac, GMC and even BrightDrop’s commercial delivery division at Hertz rental locations.

The car-rental giant said on Tuesday it plans to order up to 175,000 electric vehicles from General Motors over the next five years, with first deliveries Chevy Bolt electric vehicles and EUV are expected to start in the first quarter of 2023. Given GM’s extensive lineup of electric vehicles, everything from compact cars to SUVs, pickups and luxury vehicles will be available to rent through Hertz by 2027. Specifically, GM’s new commercial division BrightDrop EV will provide Hertz with its Zevo 600 van.

GM’s order is the latest in a string of deals aimed at expanding Hertz’s electric vehicle portfolio.

Hertz has previously signed contracts with Polestar and Tesla on order before 65 000 as well as 100,000 electric vehicles, respectively, to meet the goal of having 25% of its fleet electric by the end of 2024. The scale of this deal is much larger and is indicative of GM’s production plans.

Historically, automakers have not flaunted day-to-day sales contracts, as cars, trucks, and SUVs typically sell at a discount. However, the market has reacted differently to other recent EV deals, perhaps because it is considered bullish for EVs. Tesla-Hertz, for example, was well received by investors.

GM shares fell 5.77% to $39. Hertz shares fell 2.76% to $17.98.

“Our work with Hertz is a huge step forward for reducing emissions and introducing electric vehicles and will help create thousands of new GM customers for electric vehicles,” said GM Chairman and CEO Mary Barra. “With the choice of vehicles, technology and range that we offer, I am confident that every rental experience will further increase consumer interest in our products and drive the growth of our company.”

Following initial deliveries of Chevy Bolts next year, GM’s shipments to Hertz are expected to grow rapidly along with an increase in GM production between 2023 and 2025, when GM’s Ultium Cells battery cell plants are expected to open in Ohio, Tennessee and Michigan. GM said it plans to increase annual production capacity to 1 million electric vehicles in North America by 2025.

Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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