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Hertz continues to feel EV losses, plans to dump more from its fleet

Teslarati

Hertz ( NASDAQ: HTZ ) reported its earnings for the first quarter of 2024 today, announcing that it is continuing to lose money on its electric vehicle investment and plans to dump even more EVs from its fleet. Hertz said it incurred a $195 million charge to vehicle depreciation to write down the EVs held for sale.

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Hertz announces ‘strategic decision’ to slash EV fleet

Teslarati

Hertz announced on Thursday in a regulatory filing with the SEC that it has made a “strategic decision” to slash its electric vehicle fleet by 20,000 vehicles. In the filing , Hertz said the figure is roughly one-third of its global EV fleet. Hertz has health with a major decrease in the value of its EV fleet, it said.

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Nikola Tre FCEV receives CARB ZEP Executive Order for HVIP eligibility; $240,000 base incentive per truck

Green Car Congress

CARB’s ZEP Executive Order is a certificate of compliance with CARB regulations for zero-emission powertrains determined to meet specific emissions standards required for sale in California. Eligible non-drayage fleets may secure up to 30 HVIP vouchers and drayage fleets may secure up to 50 vouchers.

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Emerging Fleet Trends—Going Electric

Clean Fleet Report

Converting Fleets to EVs and Adding Roadside Assistance. EVs make a lot of sense for commercial fleets with reduced fuel and maintenance costs and batteries that can be sized to a specific route to eliminate range anxiety. Companies making near and long-range plans for their fleets are no longer merely thinking gasoline or diesel.

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Study finds testing the technology the strongest initial motivation for fleet managers adopting EVs

Green Car Congress

According to a report from Frost and Sullivan (Kumar, 2013), fleet managers adopted more than half of EVs sold globally up to 2013. Thereafter fleet managers adopted or indicated an intent to adopt a larger number of EVs because of the benefits that they offer. Sierzchula (2014) Click to enlarge. — William Sierzchula.

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Optimal Electric Vehicles secures initial order for 200 EV chassis; partnership with Olathe Ford

Green Car Congress

Under the partnership terms, Optimal will supply Olathe E1 Battery Electric Chassis for sales and distribution to Olathe’s customer base in the market segments of school buses, commercial trucks and buses, ambulance, recreational vehicles, and fleet trucks.

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Ford Mustang Mach-E passes Michigan State Police standards, fleet inclusion to be determined

Teslarati

The Ford Mustang Mach-E all-electric vehicle became the first EV to pass the rigorous testing standards set by the Michigan State Police to have a vehicle be considered for inclusion in its fleet. Graphics on vehicle not available for sale. The Mach-E is their prime candidate for the newest member of their fleet. Credit: Ford).

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