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Hertz announces purchase of 65,000 electric cars over 5 years

In this Tuesday, Nov. 28, 2017 photo a Hertz rental car logo rests on the front of a Hertz location, in Boston. Car rental company Hertz is ordering 100,000 electric vehicles from Tesla. The company says it’s buying the Tesla Model 3s by the end of 2022, and it also will buy electric vehicle chargers. No price was given for the order, but it has to be worth around $4 billion because each Model 3 has a base price of around $40,000. (AP Photo/Steven Senne, file)
by: WRTV Staff
Posted: / Updated:

TAMPA, Fla. (WPTV) — Hertz announced Monday it plans to buy up to 65,000 electric vehicles from the Swedish electric car maker Polestar. The purchases will take place over the next five years, the rental car company said.

Financial terms were not disclosed. The vehicles are expected to be available in Europe in the spring and in North America and Australia later this year.

The announcement on Monday comes more than five months after Hertz said that it will buy 100,000 electric vehicles from Tesla. That’s one of the largest purchases of battery-powered cars in history. Hertz also said at the time that it will establish its own electric vehicle charging network as it strives to produce the largest rental fleet of electric vehicles in North America.

Hertz plans to have its electric vehicles available for its leisure and business customers, as well as ride-share drivers.

“By working with electric vehicle industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers, and rideshare partners a premium electric vehicle product, exceptional experience and lower carbon footprint,” Hertz CEO Stephen Scherr said in a statement.

Shares of Hertz Global Holdings Inc. rose 2.4% in before-hours trading.

This story was originally reported by The Associated Press and abcactionnews.com.

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