Originally Posted by
xienon
Stock is on the express train to 0 thanks to their EV misadventure, they lit over $700 million of cash on fire in the 1st quarter.
The wild thing is....when Hertz first announced the big EV initiative, I was impressed that they were innovating - taking the lead.
Then I actually rented one in a city where I didn't know where chargers were and didn't have access to an overnight charger. And I immediately realized that while EVs have great promise for the future, rentals...for now....are a lousy use case for them. Most renters *don't* have access to overnight chargers, so they're either charging them during the day (a bad user experience that makes people unlikely to rent them again) or bringing them back with low charge, taking them out of the ready-to-rent fleet until they can be recharged.
I've still rented them occasionally when there was a great promotion AND I knew I was driving less than one full charge. The $25 fee for bringing it back "empty" is reasonable enough. But from their business perspective I don't see how it makes sense. They'd have been better off expanding their hybrid fleet in places where fuel costs are high and high MPG is a competitive advantage.
And that's before taking into account that people are morons and wreck EVs because they don't know how to drive them.