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Hertz to buy 65,000 Polestar vehicles over five years

Hertz and Polestar have announced that it has formed a partnership that will see the former buy 65,000 battery-electric vehicles from the latter over the next five years. This forms part of Hertz’s plan to become an electrification leader and promote shared mobility and a digital-first customer experience. The partnership with Polestar builds on an announcement last October, which highlighted Hertz’s intentions to offer the largest BEV fleet in North America and one of the largest worldwide. It is also making its BEVs accessible to ride-share drivers as a way to speed up electrification.

Last year, Hertz announced that it will purchase 100,000 Tesla Model 3s as part of its plan to electrify its fleet. That deal reportedly cost $4.2 billion. Renters who choose the Model 3 will get access to the Supercharger network and the charging stations that Hertz plans to roll out. Those cars are already available for rent in Europe and the United States.

“Polestar is committed to accelerating the move to electric mobility with a fascinating and innovative product portfolio,” said Thomas Ingenlath, CEO of Polestar. “We are delighted that Hertz has chosen Polestar as a strategic partner on their road to electrification. The partnership with a global pioneer like Hertz will bring the amazing experience of driving an electric car to a wider audience, satisfying a broad variety of our mutual customers’ short- and longer-term mobility requirements. For many of them, it may be the first time they have driven an EV, and it will be a Polestar.”

Initially, Hertz will order the Polestar 2, Polestar’s first BEV. The hatchback features Android Automotive OS with built-in Google Assistant. They’ll be available for rent starting in Spring 2022 in Europe and later in the year for North America and Australia. It is currently available in single- or dual-motor configurations, which are EPA-rated for 270 and 249 miles per charge respectively. Polestar is helping accelerate the shift to electrification and will continue to do so as it expands its vehicle lineup this year with the addition of the Polestar 3, its first crossover. It will be followed by the Polestar 4, a compact SUV, and its new flagship, the Polestar 5. Sales volumes are expected to grow to 290,000 vehicles per year by the end of 2025.

Together with the Model 3 purchase announcement last year, Hertz will have a BEV fleet totaling 165,000 vehicles globally. This will allow more consumers to experience what it’s like to drive a battery-electric vehicle since they’re now able to live with them when they’re traveling. Stephen Scherr, CEO of Hertz noted that the partnership with Polestar allows them to modernize the mobility ecosystem in a manner that’s also environmentally responsible. “By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers, and ride-share partners a premium EV product, exceptional experience, and lower carbon footprint,” he added.

With Tesla and Polestar vehicles entering Hertz’s global fleet, it’s only a matter of time until it also gets vehicles from other brands. The company could turn to Hyundai, Kia, General Motors, and Ford for crossovers since those brands have some of the most compelling utility vehicles on sale or in the pipeline.

Written by Stefan Ogbac
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