Hertz Global hits the brakes on EV plans with Polestar Automotive [Seeking Alpha]
Hertz Global Holdings, Inc (HTZ)
Last hertz global holdings, inc earnings: 2/24 04:05 pm
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plans to buy tens of thousands of electric vehicles from the automaker this year. Hertz's head of the electric vehicle brand pointed to a collapse in resale values last year as a major factor in the decision to pull back on EV plans. Of note, Hertz Global ( HTZ ) agreed in 2022 to buy 65K Polestar cars over five years and to buy 100K Tesla ( TSLA ) cars in a push to offer customers EV options. However, a collapse in the resale value of EVs and high repair costs has led to Hertz altering its strategies with Polestar ( PSNY ) and Tesla ( TSLA Polestar ( PSNY ) CEO Thomas Ingenlath told the Financial Times that he had been contacted by Hertz's chief executive Stephen Scherr last autumn to ask whether he could pause their agreement to buy a certain number of EVs throughout 2024 after the company bought 20K electric vehicles from Polestar ( PSNY ) in the two-year period of 2022 to 2023. Inglenlath confirmed that Polestar ( PSNY ) agreed to waive Hertz's ( HTZ ) requirement to buy its a
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HTZ
News
- Hertz says it lost another $195M from EV bet [FOX Business Network]FOX Business Network
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Hertz Global Holdings, Inc. - HTZAccesswire
- Hertz Global Holdings First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags [Yahoo! Finance]Yahoo! Finance
- More used Teslas are about to flood the market. [Verge, The]Verge, The
- Why Hertz Stock Plunged Today [Yahoo! Finance]Yahoo! Finance
HTZ
Earnings
- 4/25/24 - Miss
HTZ
Sec Filings
- 4/22/24 - Form 8-K
- 4/9/24 - Form ARS
- 4/9/24 - Form DEFA14A
- HTZ's page on the SEC website