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Published 12 days ago

Hertz says it lost another $195M from EV bet

Summary by Fox Business

Hertz said Thursday that the rental car giant's failed investment in an electric vehicle fleet continues to be an expensive mistake, reporting it lost another $195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale.The company's total losses were $588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday.I…

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Hertz says it lost another $195M from EV bet

Hertz said Thursday that the rental car giant's failed investment in an electric vehicle fleet continues to be an expensive mistake, reporting it lost another $195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale.The company's total losses were $588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday.I…

12 days ago·United States

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