, Jan. 19, 2023 /PRNewswire/ -- Today, Hertz (NASDAQ: HTZ) announced a new public-private partnership initiative, Hertz Electrifies, aimed at accelerating the transition to electric vehicles, while creating economic opportunity and environmental benefits for communities. In partnership with mayors across the country, Hertz will bring its EV fleet to American cities, while supporting the build out of charging infrastructure, creating educational and training opportunities for high-quality jobs in a new era of mobility, and engaging with local organizations to extend the benefits of electrification to underserved communities. Hertz Electrifies is launching in Denver, Colorado in partnership with Mayor Michael B. Hancock.
"Electric vehicles are poised to transform the future of mobility," Hertz
CEO Stephen Scherr
"Electric vehicles are poised to transform the future of mobility," said Hertz CEO Stephen Scherr. "That's why Hertz is investing in the largest electric vehicle rental fleet in North America and bringing a new driving experience to leisure and business customers, as well as rideshare drivers. I can think of no better partner in Hertz's shift towards electrification than America's cities, where innovation is happening. Hertz is proud to launch Hertz Electrifies in partnership with the city of Denver, which is fast becoming a center for sustainability under the leadership of Mayor Michael Hancock."
Through the initiative, Hertz aims to:
- Bring up to 5,200 rental EVs to Denver, for availability to Hertz customers and rideshare drivers;
- Increase charging capacity at the Denver International Airport and at Hertz locations through installation of a mix of Level 2 and fast chargers;
- In partnership with bp pulse, a global high-speed electric charging network, support the installation of publicly accessible EV chargers across neighborhoods in Denver;
- Share telematics from Hertz's fleet of connected cars to help inform public charging infrastructure planning;
- Offer summer job opportunities through the Denver Youth Employment Program; and
- Provide electric vehicles, tools and training to Montbello Career and Technical High School for students enrolled in its auto certificate program.
"Our goal is to reduce Denver's carbon emissions 80 percent by 2050, and expanding the use and availability of electric vehicles will play a major role in helping us achieve that goal. This partnership with Hertz will provide invaluable data about where we need charging infrastructure the most, as well as provide new opportunities with this new technology to create good-paying jobs for our current and future workforce," said Denver Mayor Michael B. Hancock. "Electric vehicles can benefit every community in Denver, and we're proud to work with Hertz to ensure that electrification opportunities reach across the city."
"This is integrated energy in action," said Denver native and bp America chairman and president Dave Lawler. "bp is transitioning for a lower carbon future, and our partnership with Hertz to roll out gigahub charging in the US will help the world do the same. Dynamic urban centers like Denver are a priority focus – and we're just getting started.'"
About Hertz Electrifies
Hertz Electrifies is a new public-private partnership aimed at furthering the mainstream adoption of electric vehicles and extending the benefits of electrification to communities throughout the United States. The initiative has five pillars: (1) electric vehicle and charging infrastructure; (2) creating jobs of the future; (3) broadening economic opportunity; (4) community engagement; and (5) policy and city planning analysis.
Adding Electric Vehicle Fleets and Charging Infrastructure:
Hertz will expand its electric vehicle fleets – including models from Tesla, Polestar, and GM – and help add charging capacity to Hertz locations in Hertz Electrifies cities. Hertz will support new public charging infrastructure through its partnerships with bp pulse and others.
Creating Jobs of the Future:
Hertz is developing a workforce training curriculum focused on servicing and maintaining EVs and will partner with local institutions in Hertz Electrifies cities to build qualified pipelines of skilled workers for these high-quality jobs. Hertz will also partner with cities to provide summer job opportunities and skills training for young people in underserved communities.
Broadening Economic Opportunity:
Hertz provides rideshare drivers with the opportunity to rent electric vehicles with flexible contracts, offering positive economics for drivers in the form of higher rates and lower fuel costs, while reducing greenhouse gas emissions in the community.
Community Engagement: As a mobility partner, Hertz will partner with cities and nonprofit organizations to put EVs and other vehicles into service in underserved communities.
Policy and City Planning Analysis:
Hertz will share telematics from its fleet of connected cars to help inform public charging infrastructure planning.
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com. Hertz has tens of thousands of EVs available at more than 500 Hertz locations across 38 states.
About The City of Denver
The City of Denver is the capital of Colorado and home to over 700,000 residents. Known as the Mile High City for its 5,280-foot elevation, Denver serves as the gateway to the Rocky Mountains and is home to one of the largest city park systems in the country. Under Mayor Hancock's leadership, Denver has become known as a top U.S. city for startups and entrepreneurship, especially for minority and women-owned businesses, one of the best places to live and is working to make sure that all residents, no matter which background they represent, can experience the success that Denver has experienced.
Cautionary Note Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws. Words such as "aim," "create," "accelerate," "transition," "will," "build," "future," "transform," "invest," "shift," "launch," "increase," "initiative," "expand," add," and "develop," and similar expressions identify forward-looking statements, which include but are not limited to statements related to the expansion of Hertz's EV fleet and its partnership with Uber, installation of charging infrastructure including in partnership with bp, and any other statements regarding future expectations, beliefs, plans, objectives, future events or performance. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including Hertz's ability to expand its EV fleet, develop and install sufficient EV charging infrastructure, and otherwise execute on its strategic plans, as well as other factors identified in the risk factors of Hertz's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the "SEC") on February 23, 2022 and any updates thereto in subsequent filings with the SEC including in Hertz's Quarterly Reports on Form 10-Q. We caution you not to place undue reliance on our forward-looking statements, which speak only as of their date, and Hertz undertakes no obligation to update this information.
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