Hertz Plans to Buy 65,000 EVs From Polestar Over Five Years
upstart writes:
Hertz plans to buy 65,000 EVs from Polestar over five years:
Hertz Global Holdings Inc. plans to buy 65,000 electric vehicles from Polestar over the next five years, betting its renters are both EV curious and eager to drive brands beyond Tesla.
The vehicles from Polestar, the all-electric automaker controlled by Volvo Car AB and its owner Zhejiang Geely Holding Group Co., will join some 100,000 Teslas that Hertz has said it's buying for more than $4 billion. The new deal delivered a boost to shares of Hertz and Gores Gugenheim Inc., the special purpose acquisition company planning to merge with Polestar.
The Tesla and Polestar purchases give Hertz a steady stream of some of the most coveted battery-powered cars, even as manufacturers scurry to keep up with swelling order books. Polestar expects to double sales this year, delivering 65,000 vehicles globally. It plans to produce 290,000 EVs a year by 2025, a tally Tesla now reaches in less than three months.
"It is our objective to build the largest fleet of electric vehicles, certainly in North America," Hertz Chief Executive Officer Stephen Scherr said.
[...] Hertz has said that, in time, its global fleet of cars - roughly half a million vehicles - will be electric and it intends to work with every EV maker on the market to make that happen.
Read more of this story at SoylentNews.