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Hertz Electric Fleet Sell-Off Does Not Spell Doom For Future Of EVs

17 Feb 2024 | Abstracted from Corporate Knights

"Make no mistake, [Hertz] is developing a clear understanding of the key levers needed to deliver a more profitable EV rental fleet in a world that is moving toward electrification...the company had not prepared for in its EV adoption projections...EVs came with significantly higher repair costs...

"Hertz's snail's pace is not indicative of the wider market. By 2026, battery electric vehicles and plug-in hybrids will account for 42% of European new passenger vehicle sales and 52% of sales in China."

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