Hertz is selling 20,000 EVs and replacing them with gas-powered vehicles

Hertz says it's selling around 20,000 electric vehicles from its US fleet, which constitutes approximately a third of its total number of EVs in its global fleet. It claimed that "expenses related to collision and damage, primarily associated with EVs, remained high" in the most recent financial quarter, "thereby supporting the company’s decision to initiate the material reduction in the EV fleet." Hertz said it plans to reinvest some of the proceeds into purchasing gas-powered vehicles.