Hertz to purchase 65,000 EVs from Polestar

Rental car company Hertz has announced yet another large EV purchase, accelerating the electrification of its global fleet. Hertz will purchase 65,000 EVs from Polestar over the coming five years. At the end of 2021, the rental company already ordered 100,000 EVs from Tesla.

The Polestar EVs will be rolled out across Europe this spring, and in North America and Australia in late 2022. According to The Verge, the deal could be worth $3.18 billion if Hertz pays full price for Polestar sedans. 

Facing bankruptcy risks during the pandemic period, Hertz restored its financial health with $5.9 billion in funding from investors. The investments will for a large part fuel the ambitious electrification effort of the company, which has now ordered 165,000 EVs to replace its global fleet of 500,000 vehicles. 

Hertz became the first rental car company to add Tesla to its fleet – helping Tesla reach a $1 trillion market value. Polestar, a joint venture between Volvo Cars and Chinese automaker Geely, has two models: Polestar 1 and Polestar 2. The automaker plans to release the Polestar 3 SUV this year. 

Image: Hertz