Hertz Global Holdings Inc. announced that its chief executive officer, Stephen Scherr, will step down from his position at the end of the month, according to a Friday press release.
Earlier this year, the rental car company moved to trim its electric vehicle inventory despite previously setting targets to transition 25% of its fleet to EVs by the end of 2024. Citing costly repairs, Hertz stated that it would sell 20,000 vehicles, or roughly one-third of its global EV fleet, and reinvest the funds in gas-powered alternatives.
The company agreed to purchase 100,000 Teslas by the end of 2022 and 65,000 Polestar vehicles over the next several years. Hertz has since re-evaluated its EV investments.
In January, Hertz’s used car website listed more than 700 EVs for sale, including Tesla Model 3 and Model Y vehicles, BMW’s i3, and Chevrolet’s Bolt. The firm aims to have all of the cars sold by 2025.
www.theblaze.com/news/hertz-ceo-steps-down-following-costly-failed-ev-push