Uber And Hertz Team Up With Electric Fleet Of Vehicles

Oct 27, 2021 By MarketDepth

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Uber (NYSE: UBER) revealed Wednesday that it has teamed up with Hertz, which recently placed an order for 100,000 Teslas, to provide half of the electric vehicles to drivers that would like to rent it, by 2023. Uber shares rose 2% during premarket trading, while Tesla’s shares increased a little over 1% upon the news.

Hertz and Carvana Partnership

Additionally, Hertz signed up with Carvana to rid themselves of the rental vehicles it no longer wants. Both deals represent innovative initiatives and are throughout to boost the car-rental industry and accelerate the transition to go green.

 “Our approach is very strategic and very deliberate in terms of how we want to disrupt ourselves and, hopefully, disrupt the industry. Instead of asking why, we’re asking why not.”

Mark Fields, who’s serving as interim chief executive officer at Hertz

Upon the agreement with Uber, drivers will have the opportunity to rent one of the available 50,000 Tesla’s. The option, which is set to commence November 1, is an alternative to leasing or buying a car of their own, which may be enticing to many drivers.

“Now is the time to drive a green recovery from the pandemic.”

Dara Khosrowshahi, chief executive officer of San Francisco-based Uber