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Hertz Plans To Order Up To 175,000 EVs From GM Over Next Five Years

Hertz (HTZ) plans to order up to 175,000 Chevrolet, Buick, GMC, Cadillac and BrightDrop EVs from General Motors Co. (GM) over the next five years, the Auto major said in a statement on Tuesday.

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

Hertz expects to begin taking delivery of Chevrolet Bolt EVs and Bolt EUVs in the first quarter of next year. GM deliveries to Hertz are projected to 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.

GM plans annual production capacity of 1 million EVs in North America by 2025.

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