Hertz, BP Partner on Electric-Vehicle Charging Stations-Hdmoviefreedownload

Hertz BP Partner on Electric Vehicle Charging Stations Hdmoviefreedownload

Hertz said it aims for one-quarter of its fleet to be electric by the end of 2024.



Photo:

ANDREW KELLY/REUTERS

Car-rental company

Hertz Global Holdings Inc.

HTZ 4.68%

and energy firm

BP

BP 1.19%

PLC said they signed a deal to develop and manage a network of electric-vehicle charging stations across North America.

BP Pulse, which is BP’s EV charging business, would power and manage Hertz’s charging infrastructure under the memorandum of understanding, the companies said. The charging infrastructure will be open to taxi and ride-sharing drivers, as well as the general public, the companies said.

Hertz, which has signed deals to buy cars from

Tesla Inc.,

Polestar and General Motors Co., said it has tens of thousands of EVs available at 500 locations across 38 states. Its goal is for one-quarter of its fleet to be electric by the end of 2024, Hertz said.

The car-rental company last week said it had agreed to buy 175,000 EVs from GM over a five-year period.

Hertz said it already has invested in thousands of EV charging stations across its locations. The deal with BP will help expand its charging footprint.

Car-rental companies have been adding electric cars to their fleets to bulk up their premium offers and help burnish their environmental credentials with investors.

Demand for electric cars has surged in recent years, but charging infrastructure across the U.S. has failed to keep pace, prompting some complaints of challenges in using electric cars, particularly on long, interstate trips.

The climate bill recently passed by the Senate could knock thousands of dollars off the sticker price of electric vehicles, but it’s also redefining which cars are eligible. WSJ’s George Downs breaks down the new rules and what it means for the EV industry. Illustration: George Downs

Write to Will Feuer at [email protected]

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