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Hertz ties up with BP for EV charger installations in North America

Published 09/27/2022, 09:08 AM
Updated 09/27/2022, 09:11 AM
© Reuters. FILE PHOTO: Signage is seen at Hertz rental car at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly/File Photo

© Reuters. FILE PHOTO: Signage is seen at Hertz rental car at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly/File Photo

(Reuters) - Hertz Global Holdings (OTC:HTZGQ) Inc said on Tuesday it has partnered with a unit of oil giant BP (NYSE:BP) to install electric vehicle (EV) charging stations across North America to power its fleet of eco-friendly cars.

The car rental firm, which did not disclose the terms of the deal, aims to electrify one-quarter of its fleet by the end of 2024.

Hertz has made large-scale EV purchases from Tesla (NASDAQ:TSLA) Inc, General Motors Co (NYSE:GM) and Polestar amid rising consumer preference for EVs. It has laid out plans to have 3,000 charging stations in North America by the end of 2022.

As per the deal, bp pulse will manage the EV charging hubs, which will be open to Hertz customers as well as the general public.

© Reuters. FILE PHOTO: Signage is seen at Hertz rental car at John F. Kennedy International Airport in Queens, New York City, U.S., March 30, 2022. REUTERS/Andrew Kelly/File Photo

Bp pulse aims to install more than 100,000 chargers globally by 2030, with about 90% of them being rapid or ultra-fast chargers.

Shares in Hertz were up 3.8% at $16.31 before the bell.

Latest comments

Yep all we need is a greedy oil co to have its hands in charging electric cars so they can keep squeezing consumers and shaking down the government for more subsidies
Love the deal, it's a win for EVs, the more stations the better!!! Let's go!!!!
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