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Why Hertz’s Big Bet on Teslas Didn’t Work
Podcast |
The Big Take
Media Type |
audio
Podknife tags |
Business
News & Politics
Categories Via RSS |
News
Publication Date |
Apr 03, 2024
Episode Duration |
00:19:48

When Wall Street investors Tom Wagner and Greg O’Hara took over Hertz, they had ambitious plans. They aimed to revolutionize the car rental business by bringing a record number of electric vehicles into Hertz’s fleet, including 100,000 Teslas. And when Hertz’s IPO launched in 2021, it seemed Wagner and O’Hara had just made a visionary deal. 

EVs were hot when Hertz started buying them. But as Bloomberg reporters Erik Schatzker and David Welch tell host Sarah Holder, the company would soon discover that making them work in the rental market was another challenge entirely.

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