Hertz Accelerates Fleet Electrification
Hertz has signed a major deal with Swedish premium car maker Polestar to purchase up to 65,000 electric vehicles over the next five years. This agreement will help Hertz accelerate its transition to an electric fleet, covering several international regions. The deal includes traditional rental schemes for both business and leisure customers, as well as ridesharing programmes.
Rollout Plans Across Continents
Executive Perspectives on the Partnership
Stephen Scherr, CEO of Hertz, expressed excitement about the partnership:
“We are excited to partner with Polestar and look forward to introducing their premium EV products into our retail and rideshare fleets. This partnership with Polestar builds on our ambition to become a leader in the modern mobility ecosystem and to do so as an environmentally-forward company. By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers and rideshare partners with a premium EV product, an exceptional experience, and a lower carbon footprint.”
Thomas Ingenlath, CEO of Polestar, also commented:
“Polestar is committed to accelerating the move to electric mobility with a fascinating and innovative product portfolio. We are delighted that Hertz has chosen Polestar as a strategic partner on their road to electrification. This partnership with a global pioneer like Hertz will bring the amazing experience of driving an electric car to a wider audience. For many customers, it may be their first time driving an EV, and it will be a Polestar.”
Polestar’s Growth and Product Expansion
Polestar has enjoyed steady growth since its launch in 2017. In 2021, the company almost tripled its sales volumes and expects to reach a production output of 290,000 vehicles per year by the end of 2025. The agreement will initially see Hertz buying the Polestar 2, which now includes a single-motor version with a longer range. Polestar is also developing an SUV, likely to be called the Polestar 3. This new model is expected to play a crucial role in Hertz’s leisure and ridesharing business in the near future.
