General Motors is selling electric vehicles to Hertz through the next five years.
General Motors (GM) – Get General Motors Company Report landed a large order for its lineup of electric vehicles as the race to attract more buyers of EVs heats up.
The Detroit auto giant said it was selling 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop EVs to rental-car company Hertz (HTZ) – Get Hertz Global Holdings Inc Report over the next five years.
Hertz plans to start taking delivery of Chevrolet Bolt EVs and Bolt EUVs in early 2023.
The lineup of EVs includes a range of compact and midsize SUVs to pickups and luxury vehicles.
Hertz is planning for 25% of its fleet to be electric by the end of 2024, with a wide range of vehicle sizes from several EV makers.
Other Producers
In April, Hertz said it planned to buy as many as 65,000 EVs from Polestar (PSNY) – Get Polestar Automotive Holding UK Limited Report, the Swedish EV maker.
Back in October 2021 the rental car company said it would buy 100,000 EVs from Tesla (TSLA) – Get Tesla Inc. Report, focusing on the popular Model 3 sedan.
The deal with GM is part of Hertz’s strategy to lower its carbon emissions.
“Our work with Hertz is a huge step forward for emissions reduction and EV adoption that will help create thousands of new EV customers for GM,” GM Chairwoman and Chief Executive Mary Barra said in a statement.
“With the vehicle choice, technology and driving range we’re delivering, I’m confident that each rental experience will further increase purchase consideration for our products and drive growth for our company.”
Motorists can currently rent EVs from 500 Hertz locations in 38 states.
