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Published 1 month ago

Hertz CEO Resigns After Blowing Big Gamble on EVs

Summary by americainsider.org

Hertz Global Holdings CEO Stephen Scherr will step down at the end of March following the car rental company’s largest quarterly loss since 2020, which Scherr blamed on a risky bet on electric vehicles (EVs). Hertz had purchased tens of thousands of EVs but soon found they were more expensive to maintain than expected and presented operational challenges. In January, Hertz announced plans to remove 20,000 EVs from its US fleet by 2024 and swit…

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americainsider.org

Hertz CEO Resigns After Blowing Big Gamble on EVs

Hertz Global Holdings CEO Stephen Scherr will step down at the end of March following the car rental company’s largest quarterly loss since 2020, which Scherr blamed on a risky bet on electric vehicles (EVs). Hertz had purchased tens of thousands of EVs but soon found they were more expensive to maintain than expected and presented operational challenges. In January, Hertz announced plans to remove 20,000 EVs from its US fleet by 2024 and swit…

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