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Why Hertz’s Big Bet on Teslas Didn’t Work
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Challenges Faced by Hertz with EV Charging Infrastructure
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Hertz encountered challenges with their EV charging infrastructure, facing issues with inadequate charging banks at their garages, limitations in city grids and airport power sources, leading to employees having to drive cars off-site for charging. This resulted in time-consuming processes, increased labor costs, decreased rental frequency, lower rental rates, and higher repair expenses. The situation prompted a decision to wind down operations, especially exacerbated by Tesla's announcement of price cuts on their lineup, impacting Hertz's car purchases negatively.
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