Hertz Global Holdings currently has electric vehicles and charging stations deployed across more than 30 markets, and it plans to have about 3,000 electric vehicles across 80 markets by year-end, CEO Stephen Scherr said Wednesday during the company’s first-quarter earnings call. These cars “command higher pricing and draw lower economic costs,” he added.
Scherr also noted a “developing phenomenon,” also cited in February by former Hertz interim CEO Mark Fields, that electric vehicles have “great appeal” to corporate clients. Corporations’ employees rent the cars, but “EVs [are] satisfying their own [environment, social and governance] and carbon-footprint objectives,” said Scherr, who stepped into his role Feb. 28. “That is an interesting dynamic.”
The company is accelerating the addition of electric vehicles, among other actions, to meet demand that materially exceeds supply, “which is reflected in pricing,” Scherr said.
Hertz reported total first-quarter 2022 revenue of $1.8…