Hertz’s electric vehicle buying spree continues as the company has announced plans to acquire up to 175,000 EVs from GM over the next five years.
Billed as the largest and broadest “expansion of EVs among fleet customers,” the deal will see Hertz purchase electric vehicles from Chevrolet, Buick, GMC, Cadillac and BrightDrop. The companies didn’t go into many specifics, but noted they’ll span a variety of categories and price points ranging from “compact and midsize SUVs to pickups, luxury vehicles and more.”
That suggests Hertz customers could find an assortment of Chevrolets including the Blazer EV, Equinox EV, and Silverado EV. Other likely candidates include the Cadillac Lyriq and upcoming GMC Sierra EV.
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Our Hertz EV rental fleet is growing! Today, we announced plans to order up to 175,000 electric vehicles from @GM over the next five years that will include a range of models from @Chevrolet, @Buick, @GMC and @Cadillac. https://t.co/oncKaYC0F8 #HertzEV #Hertz #HertzLetsGo pic.twitter.com/ckDzk9Dhrv
— Hertz (@Hertz) September 20, 2022
The EV onslaught will begin in the first quarter of 2023, when Hertz receives an initial batch of Bolt EVs and Bolt EUVs. Shortly thereafter, deliveries will increase as “GM rapidly scales its EV production between 2023 and 2025, driven by the opening of Ultium Cells battery cell plants in Ohio, Tennessee and Michigan.”
In a statement, Hertz CEO Stephen Scherr said “We are thrilled to partner with GM on this initiative, which will dramatically expand our EV offering to Hertz customers, including leisure and business travelers, rideshare drivers and corporates.”
His sentiments were echoed by GM executive Mary Barra, who remarked “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.” Speaking of the latter, Barra said “I’m confident that each rental experience will further increase purchase consideration for our products and drive growth for our company.”
As we have previously reported, Hertz has been gobbling up EVs following its exit from bankruptcy. Last year, the rental car company announced plans to buy 100,000 Tesla Model 3s and that was followed by plans to buy up to 65,000 EVs from Polestar.