Rental car industry – Hertz and Enterprise Embark on Electric After Pandemic Bonanza

Rental car industry

After the Covid-19 pandemic forced several rental car giants into bankruptcy last summer, Hertz Global Holdings has announced a $4.2 billion deal to buy 100,000 Tesla EVs. The Florida-based company is preparing for the transition to EVs. In the coming years, EVs will make up about 40 percent of Hertz’s fleet. But the company has a long way to go to become a leading electric car company.

While Hertz is leading the way in terms of EV car rental, Enterprise is not. Enterprise is a privately held company based in St. Louis, Missouri. However, the company has been participating in the Drive Electric Orlando Rental Pilot since 2014. The project is part of a multiyear study sponsored by the Electrification Coalition, a Washington, D.C.-based nonprofit that advocates for fleet owners to switch to electric vehicles.

The rental car industry is one of the largest purchasers of new vehicles in the United States. In fact, the industry accounts for a tenth of all new cars sold in the United States. The industry has been resisting the rush to electrify cars due to the lack of demand. However, with the recent pandemic affecting public transportation and driving to remote vacation destinations, the rental car giants have been hesitant to invest in electrified vehicles.

Rental car industry – Hertz and Enterprise Embark on Electric After Pandemic Bonanza

The rental car industry is poised for another transition. The electric revolution has hit the car industry’s most valuable market: the rental car industry. Renting a car is a smart choice for many travelers. Aside from saving money, it’s good for the environment, too. It’s also good for business, and the industry will reap the rewards. But the question remains: will car rental companies make a profit in the electric future?

Uber has launched an electric car initiative in Portland, Oregon with a goal of electrifying 10 percent of its fleet by 2019. Another electric car rental service is BlueLA, which has an EV in its fleet. However, other car-sharing services charge as much as $100 per day. It is important to note that Uber does not require you to return your car fully charged, as you are responsible for charging the vehicle. The company aims to offer free charging at its locations, and it does not require the customer to do so.

Hertz has recently announced plans to purchase 100,000 Tesla Model 3 sedans, which will be distributed in North America and select European markets. These cars will represent 20 percent of the global rental fleet. In addition, Hertz has announced plans to install electric-vehicle charging stations in 65 locations in the U.S. by the end of the year, and more will be installed in 2023. The news also signals that the company is committed to making the transition to the future by making EVs a viable option for its business and its clients.

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