Hertz and Polestar announce a global strategic partnership aimed at accelerating the adoption of electric vehicles.
Hertz will buy up to 65,000 electric vehicles over the next five years.
Hertz and Polestar, Sweden’s premium electric performance car manufacturer, announced a new global partnership today that includes the purchase of up to 65,000 electric vehicles (EVs) over the next five years. Availability in Europe is expected to begin in Spring 2022, followed by North America and Australia in late 2022.
For Hertz, the partnership is part of the company’s ongoing commitment to lead in electrification, shared mobility, and a customer experience that is centered on digital technology. The partnership with Polestar builds on Hertz’s announcement last October that it would offer its customers the largest EV rental fleet in North America and one of the world’s largest. Along with making the fleet available to business and leisure customers, Hertz is expanding the use of EVs to rideshare drivers to help accelerate electrification.
“We are excited to partner with Polestar and look forward to introducing their premium EV products into our retail and rideshare fleets,” said Stephen Scherr, Hertz CEO. “Today’s partnership with Polestar further builds on our ambition to become a leading participant in the modern mobility ecosystem and doing so as an environmentally-forward company. By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers and rideshare partners a premium EV product, exceptional experience and lower carbon footprint.”
Polestar is a key driver of global EV growth, accelerating the transition to sustainable mobility as consumer awareness of the environmental and convenience benefits of electrification grows. Polestar reported that volumes nearly tripled in 2021 and are expected to more than double again this year. Polestar anticipates annual volume to reach 290,000 vehicles by the end of 2025. Polestar previously announced its intention to list on the Nasdaq New York Stock Exchange in connection with a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in the second quarter of 2022.
“Polestar is committed to accelerating the move to electric mobility with a fascinating and innovative product portfolio,” said Polestar CEO Thomas Ingenlath. “We are delighted that Hertz has chosen Polestar as a strategic partner on their road to electrification. The partnership with a global pioneer like Hertz will bring the amazing experience of driving an electric car to a wider audience, satisfying a broad variety of our mutual customers’ short- and longer-term mobility requirements. For many of them it may be the first time they have driven an EV, and it will be a Polestar.”
Hertz will initially order the Polestar 2, an award-winning electric vehicle that established Polestar as a premium electric vehicle manufacturer with its first volume model. Polestar 2 combines cutting-edge Scandinavian design with cutting-edge in-car technology. Polestar 2 is the world’s first premium EV to feature an infotainment system powered by Android Automotive OS with built-in Google, packaged in a driver-oriented, dynamic driving package.
