Sunday, October 31, 2021

Hertz orders 100,000 Tesla Model 3 EVs with half available to Uber drivers


Hertz announced its latest foray into the EV marketplace with an order of 100,000 Tesla Model 3 sedans that will be added to Hertz's rental vehicle fleet. Interestingly, half (50,000 EVs) will be available to Uber drivers to be used in major city markets. "Climate change is an urgent global challenge we must all tackle together, and now is the time to drive a green recovery from the pandemic," said Uber CEO Dara Khosrowshahi. "This combines the power of Tesla, Hertz and Uber to help accelerate the transition to zero-emissions mobility. We look forward to seeing more EVs on the road right away." Hertz has even gone so far as to enlist the help of Tom Brady to introduce the new initiative with TV (and internet) commercials (after the jump). The Hertz announcement caused Tesla's stock to hit new heights and increased Tesla's overall valuation to more than most automakers except Volkswagen and Toyota. Lofty heights indeed. Beginning in early November and expanding through the end of the year, customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in U.S. major markets and select cities in Europe. This gives consumers more choice and can even allow one to make a rental "test drive" by renting a Model 3 and living with it for a period of time. Kinda cool. For more info, check out the media releases, and Hertz commercial by clicking on "read more" below. Enjoy! No word if the Hertz Model 3s will all be white.

Source: Hertz - Media releases, pics, and commercial


Media Releases:

Hertz Invests in Largest Electric Vehicle Rental Fleet and Partners with Seven-Time Super Bowl Champion Tom Brady to Headline New Campaign

As consumer interest in electric vehicles (EV) skyrockets, Hertz today is announcing a significant investment to offer the largest EV rental fleet in North America and one of the largest in the world. This includes an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across the company's global operations.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8971751-hertz-invests-in-largest-electric-vehicle-rental-fleet-partners-with-tom-brady-for-new-campaign/ 

In addition, Hertz is teaming up with seven-time Super Bowl champion and entrepreneur Tom Brady to showcase how it is making EV rentals fast, seamless and more accessible, as the company accelerates its commitment to lead the future of mobility and travel.

"Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," said Hertz interim CEO Mark Fields. "The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world."

Today, 40 percent of U.S. consumers say they are likely to consider an electric vehicle the next time they are in the market for a new vehicle, according to Pew. Global EV sales skyrocketed 200 percent in the last year and will likely continue to grow with commitments from global automakers to increase EV sales. For example, in August, three U.S. automakers pledged to boost EV sales to 40-50 percent by 2030. 

The growth is powered by electric vehicles' high efficiency, positive user experience and climate change benefits – coupled with battery breakthroughs and rapidly expanding charging networks. EV drivers also benefit from lower maintenance and fuel costs.

Beginning in early November and expanding through year end, customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in U.S. major markets and select cities in Europe. To learn more, visit hertz.com/ev.

Hertz also is installing thousands of chargers throughout its location network. Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations throughout the U.S. and Europe.

Hertz will offer a premium and differentiated rental experience for the Tesla EVs. This includes digitized guidance to educate customers about the electric vehicle to get them on their way quickly, and coming soon, an expedited EV rental booking process through the Hertz mobile app.

With the current order, EVs will comprise more than 20 percent of Hertz global fleet and is expected to be supported by a combination of Level 2 and DC fast charging in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023. Hertz said these ambitions could be affected by factors outside of Hertz's control, such as semiconductor chip shortages or other constraints.



"Hertz, Let's Go!" with Tom Brady

To spread the word about its leadership on EV rentals, Hertz is partnering with seven-time Super Bowl champion Tom Brady for a new "Hertz, Let's Go!" campaign.

Two new ads – "Plugged In" and "Speed" – beginning today show Brady renting, recharging and using an EV at a Hertz airport location. The spots use humor and Brady's signature "Let's Go" game-day rallying cry to underscore Hertz's reputation for excellence, speed and ease throughout the travel experience.

"Hertz is changing the game when it comes to the future of mobility and has come through for me time and time again," said Tom Brady. "Although the company has been around for over 100 years, their constant evolution, especially now, is something that is amazing to be a part of. I've been driving an EV for years and knowing Hertz is leading the way with their electric fleet speaks to how the world is changing and the way companies are approaching being environmentally and socially conscious. I've always loved how easy and convenient Hertz makes it for me when I'm traveling to my favorite places like New York, LA and Tampa and can't wait to see what they continue to have in store."

The New Hertz
Hertz is combining its brand strength and global fleet management expertise with new technology and innovations to chart a dynamic, new course for travel, mobility and the auto industry. The company's commitment to becoming an essential component of the modern mobility ecosystem includes Hertz leading in electrification, shared mobility and a digital-first customer experience.

Today's investment in electric vehicles builds on Hertz's pioneering work in its rental operations during the past decade. Hertz was the first U.S. car rental company to introduce EVs to its rental fleet in 2011 and the first to implement a wireless charging system for electric vehicles. The company also is the exclusive rental car member of the Corporate Electric Vehicle Alliance, a consortium of companies focused on accelerating the transition to electric vehicles.

About Hertz

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of federal securities laws. Words such as "expect" and "intend" and similar expressions identify forward-looking statements, which include but are not limited to statements related to the timing of EV deliveries and the expansion of charging infrastructure and any other statements regarding future expectations, beliefs, plans, objectives, future events or performance. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that Hertz may not be able to accurately predict or assess, including those in the risk factors that Hertz identifies in its annual reports on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (the "SEC"), and any updates thereto in subsequent filings with the SEC. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and Hertz undertakes no obligation to update this information.

Release 2:

Hertz Partners with Uber to Add Up to 50,000 Teslas to Uber Network by 2023
Hertz to Provide Drivers with Tesla Electric Vehicle Rentals

Hertz and Uber (NYSE: UBER) today are accelerating the adoption of electric vehicles (EVs) in the U.S. through a new exclusive partnership to make up to 50,000 Teslas available by 2023 for drivers to rent when using the Uber network.

This partnership is the largest expansion of electric vehicles on a mobility platform in North America and one of the largest globally, marking another step toward Uber's zero-emissions goal. Starting Nov. 1, drivers can rent Teslas from Hertz through this program in Los AngelesSan FranciscoSan Diego and Washington, D.C. – with a nationwide expansion planned in the coming weeks. 

For Hertz, the partnership is part of its commitment to lead the future of travel, mobility and the auto industry. This includes Hertz leading in electrification, shared mobility and a digital-first customer experience. On Monday, Hertz announced its most significant investment to offer the largest EV rental fleet in North America and one of the largest in the world. This includes an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across Hertz's global operations.

"Today's partnership with Uber is another major step forward in Hertz becoming an essential component of the modern mobility ecosystem and executing on our commitment to being an environmentally forward company," said Mark Fields, Hertz interim CEO. "We are creating the new Hertz and charting a dynamic, new course for the future of travel, mobility and the auto industry."

"Climate change is an urgent global challenge we must all tackle together, and now is the time to drive a green recovery from the pandemic," said Uber CEO Dara Khosrowshahi. "This combines the power of Tesla, Hertz and Uber to help accelerate the transition to zero-emissions mobility. We look forward to seeing more EVs on the road right away."

For drivers looking to rent a Tesla, this is the best deal available in the market today. It offers drivers gas savings, higher earnings potential, access to the Tesla Supercharger network and Uber's exclusive EVgo discounts, and other financial benefits through Uber's Green Future program, which provides incentives – such as $1 more per trip up to $4,000 annually – for drivers to transition from gas-powered vehicles to EVs.

Globally, consumer interest in electric vehicles is skyrocketing because of environmental concern, convenience and reduced operating costs. Access to carpool lanes for solo-occupant vehicles – for both personal and ride-sharing vehicles – also is a major motivator.

Drivers are becoming increasingly interested in EVs. A recent survey of more than 6,000 internal combustion engine (ICE) drivers using the Uber app showed that 47 percent are interested in a battery EV as their next car.

Uber and Hertz have partnered since 2016 to provide drivers with vehicle rental options. With this partnership, Hertz will kick off the program by providing up to 50,000 vehicles by 2023 exclusively to drivers. If successful, the program could expand to 150,000 Teslas during the next three years. Hertz pointed out that these ambitions could be affected by factors outside of its control, such as semiconductor chip shortages or other constraints.

Participating drivers receive a preferred weekly rate for Hertz rentals, which includes insurance, basic maintenance and unlimited miles. The Hertz-Uber offering can also make it easier for drivers to source a vehicle, by eliminating the long-term commitments that buying or leasing a car often require. 

Hertz has been an electric vehicle pioneer during the past decade. It was the first U.S. car rental company to introduce EVs to its rental fleet in 2011 and the first to implement a wireless charging system for electric vehicles. The company also is the exclusive rental car member of the Corporate Electric Vehicle Alliance, a consortium of companies focused on accelerating the transition to electric vehicles.

About Hertz
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North AmericaEurope, the CaribbeanLatin AmericaAfrica, the Middle EastAsiaAustralia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

About Uber
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 25 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of federal securities laws. Words such as "expect" and "intend" and similar expressions identify forward-looking statements, which include but are not limited to statements related to the timing of EV deliveries and the expansion of charging infrastructure and any other statements regarding future expectations, beliefs, plans, objectives, future events or performance. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that Hertz may not be able to accurately predict or assess, including those in the risk factors that Hertz identifies in its annual reports on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (the "SEC"), and any updates thereto in subsequent filings with the SEC. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and Hertz undertakes no obligation to update this information.

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