Hertz partners with BP to ship electric vehicles

Hertz partners with BP to ship electric vehicles

Hertz International Holdings (HTZ) the car rental company, has partnered with oil company BP (BP) to set up its own electric vehicle charging stations in the United States

The charging infrastructure will be powered and operated by BP Pulse, BP’s EV shipping company. The two companies signed a memorandum of understanding and said they would open electric vehicle charging stations to the general public as well as taxi and shared ride drivers.

Hertz, which has deals to buy cars from General Motors (GM) Pole Star (PSNY) and Tesla (TSLA) drivers can choose from tens of thousands of electric chargers from its 500 locations. Electric vehicles are currently limited to 38 states.

By the end of 2024, Hertz plans to increase the number of electric vehicles to 25% of its fleet. The company said last week that it would buy 175,000 electric vehicles from General Motors over a five-year period.

No charging stations

One hurdle for car rental companies is the lack of charging stations in some areas, including airports, hotels, office buildings, and along interstate highways.

Hertz said it has invested in “thousands” of electric vehicle charging stations across its sites, but did not provide further details.

The demand for electric vehicles from consumers has increased as more and more car manufacturers are offering different models from sedans to SUVs to pickup trucks.

The number of electric vehicle charging stations has also risen across the United States in recent years, but consumers, car manufacturers and rental car companies have complained of a shortage of stations in certain cities and regions.

โ€œHertz is accelerating the adoption of electrification by investing in the largest rental fleet of electric vehicles in North America and expanding the availability of charging stations,โ€ said Stephen Sher, CEO of Hertz.

Hertz adds EVs to its fleet

Hertz has added a large number of electric vehicles to its fleet.

In April, Hertz said it would buy up to 65,000 EVs from Polestar, the Swedish EV maker.

Back in October 2021, the car rental company said it would buy 100,000 EVs from Tesla, focusing on the more popular and less expensive Model 3 sedan.

BP acquired Amply Power, a fleet shipping and energy management company, in 2021 and renamed it BP pulse. The division began adding charging infrastructure at 25 Hertz rental locations in several states in 2022.

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