American car rental giant Hertz has replaced its CEO following the electric car debacle that saw the company pledge to purchase up to 100,000 battery electric vehicles (BEVs) in October 2021 as part of companywide efforts to electrify its vehicle fleet before selling off 20,000 EVs just two years later. Hertz had plans to buy 100,000 Tesla EVs followed by 175,000 electric cars from General Motors and an additional 65,000 from Polestar.
However, Hertz found that the costs involved in running, maintaining and repairing electric cars were more than initially projected. Consequently, the company decided to…
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