Posted on 01/14/2024 3:15:37 PM PST by Libloather
The White House praised Hertz, one of the four largest car rental companies in the world, for its efforts to "substantially increase" electric vehicle (EV) rentals months before the company announced it would largely abandon EVs over increasing costs.
On Thursday, Hertz Global Holdings announced in financial filings that it made the "strategic decision" to sell approximately 20,000 EVs from its U.S. fleet, or about one-third of its global EV fleet. According to the documents filed with the Securities and Exchange Commission, Hertz's sales of EVs began in December and will continue in an orderly fashion throughout 2024, and a portion of the proceeds from those transactions will be invested in new gas-powered cars.
"The Company expects this action to better balance supply against expected demand of EVs," the company stated, before pointing to the high costs of managing EVs. "This will position the Company to eliminate a disproportionate number of lower margin rentals and reduce damage expense associated with EVs. The Company will continue to execute its strategy around EV mobility and offer customers a wide selection of vehicles."
"Going forward, the Company will continue to actively manage the total size of its EV fleet, as well as the allocation of EVs among customer segments, including leisure, corporate, government and rideshare," it continued.
However, prior to the announcement Thursday, the White House had repeatedly lauded Hertz for the company's public commitments to transition its fleet to one more reliant on EVs.
For example, in March 2023, the White House highlighted Hertz's efforts and said the company was playing a role in "accelerating the EV transition." The fact sheet stated that Hertz, in addition to other private sector and public sector entities, would help ensure President Biden's goal of having 50% of total vehicle sales be electric by 2030.
(Excerpt) Read more at foxbusiness.com ...
lol
Not changing my tagline.
VP Bush(’41) to Ferdinand Marcos: “We admire your adherence to democrat principals”.
It was a big fing deal to brandon just like solyndra
This made me laugh.
Electric vehicles are going to save the world (message) - climate change & Elon is an evil man despised by the regime (message) - censorship.
They must have been torn over what to say about this so they compromised and left “Tesla” out of it?
The marketplace can and should decide on whether or not there will be an “EV transition”
They need to bring back OJ.
Dirty woke CEOs don’t seem to mind putting cement boots on and jumping into shark infested waters.
Communist countries and Nazis use “government/corporate partnerships” and this is a definite US trend now for the woke. If such a “partnership” falters, the US taxpayers will fund the choice of winners and losers.
Old capitalism: Car buyers able to choose manual transmissions or the new automatic ones. And choose to have rear window defrosters. And leave behind 8 track cartridge players in cars. And hand cranked windows. By choice.
New Marxist way: You are not allowed to have gas stoves, gas engine cars, gas lawn mowers or to use air conditioners. No choice soon.
HA HA
I, for one, would refuse an electric rental.
If I’m travelling, I want reliable transportation that doesn’t remove a very noticeable portion of each day sitting and watching it store energy.
Mebe some upscale golf course will buy them.....
They voted for it before they voted against it. Or something. And, in the immortal words of a thankfully mortal Obama, “Solyndra is the future.” By that, it turns out bankruptcy is the future. Again.
Ignorant, stupid politicians have no skin in the game. All they is spend other peoples’ money with wild abandon with no consideration of what it takes to make a productive investment.
The stupidest, most economically ignorant politician resides at the Old Folks White House Home for the Aged and Infirm.
This spate of current, severe cold weather over much of the country is icing on the cake.
Let me tell you how Hertz screwed me over. All they had left for me was an electric vehicle to go from Killen to North Dallas last month. There are no charging stations at any point before or after reaching my destination on the other side of Dallas. God knows Biden is causing the downfall of a nation that based it’s existence on His (God’s) principles. I often picture Biden recieving his eternal reward. (Then I repent and ask for forgiveness.)
As if anyone doubted the push for the damn things was a democrat ply.
And the oversize electric golf cart fanbois here get their panties in a was when the things are ridiculed.
Here’s the ad they need:
OJ in an EV. With this EV from Hertz, I can sneak up on the real killas.
Even his friends don’t care at Biden thinks
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