Over the next five years, rental car company Hertz will order 175,000 electric vehicles from GM to expand its fleet of rental vehicles.
GM has just announced that, as part of the deal, it will supply Hertz with compact and full-size SUVs, pickups, luxury vehicles and more from its Chevrolet, Cadillac, Buick, GMC and BrightDrop brands. According to GM’s press release announcing the contract, Hertz and GM believe that the agreement represents the “largest expansion of electric vehicles among fleet customers.”
“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,” said GM CEO Mary Barra. “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.”
GM will deliver its electric vehicles to Hertz through 2027, with the first models becoming available to rent in early 2023. Over this five-year period, Hertz estimates that its customers could use its EVs to travel over a combined eight million miles, which would eliminate 3.5 million metric tons of carbon dioxide equivalent emissions when compared to ICE vehicles traveling the same distance. For its part, Hertz plans for one quarter of its fleet to be electric by the end of 2024 and will have tens of thousands of EVs available to rent across its network of 500 locations in 38 states.
Hertz expects to begin taking deliveries of the Chevrolet Bolt EV and Bolt EUV in the first quarter of 2023. Deliveries will continue to ramp up as GM scales up EV production. The automaker’s goal is to release 30 new EVs over the next three years across all brands globally, and to be able to support the production of one million EVs annually by 2025. These EVs will feature its state-of-the-art Ultium Drive motors and Ultium battery technology.