General Motors, Hertz make deal to deploy up to 175,000 EVs

Rental car company Hertz Global Holdings prepares to order up to 175,000 General Motors electric vehicles during the next five years.

This is the latest move toward zero-emission models.

The multi-billion dollar, multi-year deal could be the first of many General Motors’ agreements to supply electric vehicles to rental car companies.

The automaker expects to deliver electric vehicles to Hertz at close to retail profit margins.

GM CEO Mary Barra said, “each rental experience will further increase purchase consideration for our products and drive growth for our company.”

GM aims to have the capacity to build 1 million EVs annually in North America by 2025.

This deal with Herts would ease pressure on GM to hit EV sales targets through individual customer sales.

Hertz’s present goal is for one-quarter of its fleet to be electric by the end of 2024.