Hertz has big electric car plans. Following its bankruptcy during the Covid-19 pandemic, the company has pledged to make the move to electric cars in a big way and kicked that off by placing an order for 100,000 Tesla Model 3 sedans. It also says it has ordered 65,000 Polestar 2 vehicles plus another 150,000 EVs from General Motors. The goal is for 25% of the half-million cars in its rental fleet to be electric by the end of 2024. 

On an earnings call last week, Hertz CEO said, “At the end of [March], we had about 50,000 electric vehicles in our fleet, comprising approximately 10% of total cars.” The company is forecasting nearly 2 million EV rentals in 2023 — approximately 5 times the number during 2022.