Hertz is selling off a third of its electric vehicle fleet, which is predominantly made up of Teslas, and will buy gas cars with some of the money it makes from the sales.
Hertz’s move to slash its EV fleet comes as electric vehicle sales growth has cooled from record highs.
Just two years ago, Hertz announced plans to buy 100,000 EVs from Tesla by the end of 2022.
Instead, as of October 2023, Hertz had only purchased 35,000 Teslas and its entire electric fleet included about 50,000 EVs total.
It announced plans in 2022 to buy up to 175,000 EVs from General Motors, and another 65,000 from Polestar.
More than 20,000 electric scooters belonging to Superpedestrian will be auctioned off later this month, along with other equipment from the startup’s U.S. operations, after closing its doors December 31.
Two “global online auction” listings have appeared on the website of Silicon Valley Disposition, an online market for “surplus assets,” which will feature scooters and other paraphernalia from cities Superpedestrian operated in, like Seattle, Los Angeles, and New York City.
The first auction opens January 23, and will run for three days.
A successive auction is set to run from January 29-January 31.
Though it raised $125 million less than two years ago, the company struggled financially in 2023 as it operated its shared scooter fleets in dozens of cities around the globe.
