Hertz (HTZ) EV fleet reaches 50,000 in Q1, 10% of its overall vehicles
Car rental giant Hertz (HTZ) ended the first quarter with 50,000 EVs in its fleet, accounting for 10% of its total vehicles. In Q1, Hertz credited its electrification strategy for the company’s growth and positive outlook for the remainder of the year.
In the first three months of 2023, Hertz generated $2 billion in revenue, up 13% year-over-year (YOY) on higher leisure and corporate demand.
Hertz CEO Stephen Scherr said the company is seeing continued growth across all customer segments alongside sustained pricing. He explained:
Our continued investments in the business, particularly in the areas of technology and electrification, are improving our operational cadence, extending our reach in rideshare, and enabling the revitalization of our value brands.
Hertz has been at the forefront of the electric vehicle transition in the rental industry. The company first announced a massive 100,000 Tesla Model 3 order last year while, more recently, adding Model Y options.
Shortly after adding Tesla models to its fleet, Hertz formed a new partnership with Uber to allow its drivers access to electric vehicles.
Hertz has since added several new EVs to its fleet from different OEMs, including an order for 65,000 Polestar models and, more recently, another considerable order for 175,000 GM electric cars.
Hertz expands its EV fleet in Q1 2023
On the company’s Q1 earnings call, Scherr said Hertz had about 50,000 EVs in its fleet at the end of the quarter.
Scherr says electric cars represent roughly 10% of its total car fleet right now as it continues to expand its zero-emission offerings. He says Hertz has begun taking deliveries of GM EVs and other OEM electric cars in the first quarter, giving customers more options to experience sustainable driving at various price points.
Since its fleet acquisition costs are typically aligned with vehicle delivery timing, Hertz says it has benefitted from the recent EV price declines sparked by Tesla’s price cuts.
Hertz predicts two million EV rentals in 2023, approximately five times the number of trips this past year. The EV rental company also continues expanding its EV charging network buildout through its partnership with BP Pulse at Hertz locations in major cities.
Through Hertz Electrifies, the company aims to increase EV utilization and access to charging with Houston, Denver, and Atlanta already signed up.
As for its rideshare business, Hertz says demand continues growing for electric options. According to Hertz, drivers renting an EV can increase their payout by 10% to 15% compared to an ICE model.
Electrek’s Take
Although 50,000 may seem like alot, it’s not much more than the 48,344 disclosed in its annual filing at the end of the year.
More importantly, Hertz revealed it took delivery of half its 100,000 Tesla order in February, so the numbers are not exactly adding up. It wouldn’t make sense for Hertz to have only 50,000 EVs in its fleet at the end of Q1 after confirming it had nearly 50,000 uber drivers renting a Tesla through its program in January.
Either way, Hertz says it remains focused on increasing EV penetration in the rental business with “considerable growth from here” according to Scherr.
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Climate XChange’s Annual EV Raffle is back for the 10th year running – and for the first time ever, Climate XChange has two raffle options on the table! The nonprofit has helped lucky winners custom-order their ideal EVs for the past decade. Now you have the chance to kick off your holiday season with a brand new EV for as little as $100.
About half of the raffle tickets have been sold so far for each of the raffles – you can see the live ticket count on Climate XChange’s homepage – so your odds of winning are better than ever.
But don’t wait – raffle ticket sales end on December 8!
Climate XChange is working hard to help states transition to a zero-emissions economy. Every ticket you buy supports this mission while giving you a chance to drive home your dream EV.
Here’s how Climate XChange’s 10th Annual Raffle works:
The Luxury Raffle
- Grand Prize: The winner can choose any EV on the market, fully customized up to $120,000. This year, you can split the prize between two EVs if the total is $120,000 or less.
- Taxes covered: This raffle comes with no strings – Climate XChange also pays all of the taxes.
- Runner-up prizes: Even if you don’t win the Grand Prize, you still have a chance at the 2nd prize of $12,500 and the 3rd prize of $7,500.
- Ticket price: $250.
- Grand Prize Drawing: December 12, 2025.
- Only 5,000 tickets will be sold for the Luxury Raffle.
The Mini Raffle (New for 2025)
- Grand Prize: Choose any EV on the market, fully customized, up to $45,000. This is the perfect raffle if you’re ready to make the switch to an EV but aren’t in the market for a luxury model.
- Taxes covered: Climate XChange pays all the taxes on the Mini Raffle, too.
- Ticket price: $100.
- Only 3,500 tickets will be sold for the Mini Raffle.
Why it’s worth entering
For a decade, Climate XChange has run a raffle that’s fair, transparent, and exciting. Every ticket stub is printed, and the entire drawing is live-streamed, including the loading of the raffle drum. Independent auditors also oversee the process.
Plus, your odds on the Luxury and Mini Raffles are far better than most car raffles, and they’re even better if you enter both.
Remember that only 5,000 tickets will be sold for the Luxury Raffle and only 3,500 for the Mini Raffle, and around half of the available tickets have been sold so far, so don’t miss your shot at your dream EV!
Climate XChange personally works with the winners to help them build and order their dream EVs. The winner of the Ninth Annual EV Raffle built a gorgeous storm blue Rivian R1T.
How to enter
Go to CarbonRaffle.org/Electrek before December 8 to buy your ticket. Start dreaming up your perfect EV – and know that no matter what, you’re helping accelerate the shift to clean energy.
Who is Climate XChange?
Climate XChange (CXC) is a nonpartisan nonprofit working to help states pass effective, equitable climate policies because they’re critical in accelerating the transition to a zero-emissions economy. CXC advances state climate policy through its State Climate Policy Network (SCPN) – a community of more than 15,000 advocates and policymakers – and its State Climate Policy Dashboard, a leading data platform for tracking climate action across the US.
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The CSC Monterey – one of the most charming little electric scooters on the US market – has dropped to a shockingly low $1,699, down from its original $2,899 MSRP. That’s nearly half off for a full-size, street-legal electric scooter that channels major Honda Super Cub energy, but without the gas, noise, or maintenance of the original.
CSC Motorcycles, based in Azusa, California, has a long history of importing and supporting small-format electric and gas bikes, but the Monterey has always stood out as the brand’s “fun vibes first” model. With its step-through frame, big retro headlight, slim bodywork, and upright seating position, it looks like something from a 1960s postcard – just brought into the modern era with lithium batteries and a brushless hub motor.
I had my first experience on one of these scooters back in 2021, when I reviewed the then-new model here on Electrek. I instantly fell in love with it and even got one for my dad. It now lives at his place and I think he gets just as much joy from looking at it in his garage as riding it.
You can see my review video below.
The performance is solidly moped-class, which is exactly what it’s designed for. A 2,400W rear hub motor pushes the Monterey up to a claimed 30 mph or 48 km/h (I found it really topped out at closer to 32 mph or 51 km/h), making it perfect for city streets, beach towns, and lower-speed suburban routes.
A 60V, roughly 1.6 kWh removable battery offers around 30–40 miles (48-64 km) of real-world range, depending on how aggressively you twist the throttle. It’s commuter-ready, grocery-run-ready, and campus-ready right out of the crate.
It’s also remarkably approachable. At around 181 pounds (82 kg), the Monterey is light for a sit-down scooter, making it easy to maneuver and park. There’s a small storage cubby, LED lighting, and the usual simple twist-and-go operation. And it comes with full support from CSC, a company that keeps a massive warehouse stocked with components and spare parts.
My sister has a CSC SG250 (I’m still trying to convert her to electric) and has gotten great support from them in the past, including from their mechanics walking her through carburetor questions over the phone. So I know from personal experience that CSC is a great company that stands behind its bikes.
But the real story here is the price. Scooters in this class typically hover between $2,500 and $4,500, and electric retro-style models often jump well above that.
At $1,699, the Monterey is one of the least expensive street-legal electric scooters available from a reputable US distributor, especially one that actually stocks parts and provides phone support.
If you’ve been curious about swapping a few car errands for something electric – or you just want a fun, vintage-styled runabout for getting around town – this is one of the best deals of the year.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss a big Tesla Robotaxi setback, the new Mercedes-Benz CLA EV, Bollinger is over, and more.
Today’s episode is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. Sales end on Dec. 8th for its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit CarbonRaffle.org/Electrek to learn more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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