Hertz and Polestar partner to accelerate EV adoption; Hertz to purchase up to 65,000 EVs over five years
Hertz and Polestar, the Swedish premium electric performance car maker, announced a new global partnership that includes purchasing up to 65,000 electric vehicles (EVs) over five years. Availability is expected to begin in Spring 2022 in Europe and late 2022 in North America and Australia.
Hertz will initially order Polestar 2, an award-winning EV which established Polestar’s position as a premium EV manufacturer with its first volume model.
For Hertz, the partnership is part of the company’s ongoing commitment to lead in electrification, shared mobility and a digital-first customer experience. The partnership with Polestar builds on Hertz’s announcement last October to offer its customers the largest EV rental fleet in North America and one of the largest in the world. In addition to making the fleet available to its business and leisure customers, Hertz is extending EVs to rideshare drivers as a way to further accelerate electrification.
Polestar reported that it nearly tripled volumes in 2021 and anticipates more than doubling volumes again this year. Polestar expects volumes to reach 290,000 vehicles per year by the end of 2025. Polestar previously announced its intention to list on Nasdaq New York in a proposed business combination with Gores Guggenheim, Inc., (Nasdaq: GGPI) which is expected to close in the second quarter of 2022.