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Hertz Starts Dumping Its Fleet of EVs and Turns Toward ICE Vehicles, but Cathie Wood Doesn’t Think Tesla Is on the Chopping Block

NewsTech

Published:

Tesla Hertz

It was just over two years ago that Hertz spurred a fierce rally in Tesla shares when it announced its intention to buy 100,000 Tesla EVs. Now, as the EV mania has cooled down substantially, euphemistically speaking, Hertz is abandoning its aggressive EV push in favor of conventional Internal Combustion Engine (ICE) vehicles. Back in October 2023, Hertz had announced that it would slow down its pace of EV acquisition, citing Tesla's price cuts and their second-order effect on the residual value, as well as higher-than-expected repair costs for the company's growing EV fleet. At the time, the car rental […]

Read full article at https://wccftech.com/hertz-starts-dumping-its-fleet-of-evs-and-turns-toward-ice-vehicles-but-cathie-wood-doesnt-think-tesla-is-on-the-chopping-block/

WccftechContinue reading/original-link]

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