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Hertz will stop buying EVs from Polestar, too
- dragontamer 3y agoEVs are a reasonable idea for many people to own. When you have 100% charge every morning thanks to a full charge at night, it likely is a practical vehicle to own day-to-day. But as a "vacation vehicle", EVs are perhaps the worst. With long 30+ minute charge times (even on the fastest chargers), incomplete charging infrastructure at hotels... all the while you're trying to learn the new city you're vacationing in today (first time in Miami? Can you find all the working chargers?)... it seems like the worst of all worlds.
- bell-cot 3y agoReality checks & costs for Hertz issuing trendy "we're buying a zillion EVs!" press releases only amounted to "imagine finding some spare change in the couch". Vs. actually buying and operating those vehicles...oops!
- dragontamer 3y agoOne can very well argue that Hertz played the market correctly. Not the actual rental market, but the stock market. How many investors propped up Hertz's stock price and bought into Hertz with those announcements? How many $Billions did Hertz raise (aka: take from those investors) as they did this? Would Hertz have been able to take money from investors if they didn't play on the EV hype? https://www.prnewswire.com/news-releases/hertz-announces-pricing-of-upsized-public-offering-of-common-stock-by-selling-stockholders-301419120.html https://www.prnewswire.com/news-releases/hertz-announces-pri... HTZ sold all of these stock at $29 per share. Given the stock price of HTZ now at $8.5ish, that's basically $20.5 of free money they extracted from every share over the last few years.