Polestar Begins Delivery to Hertz as Part of 65,000 EV Agreement
2022.06.09 14:37
Polestar Begins Delivery to Hertz as Part of 65,000 EV Agreement
By Michael Elkins
Polestar, which is merging with SPAC Gores Guggenheim Inc (NASDAQ:GGPI), announced it has begun delivering the new Polestar model 2s to Hertz (NASDAQ:HTZ) as part of an agreement announced in April. Under the agreement, the Swedish electric vehicle maker will supply the rental company with 65,000 cars over the next five years, one of the largest single orders for electric cars ever made.
“Our partnership with Hertz is an exciting milestone that provides the opportunity for a significant number of potential new customers to experience an EV for the first time, and it will be in a Polestar,” says Thomas Ingenlath, CEO of Polestar. “With over 55,000 Polestar cars already on the road across our 25 live markets, there is no doubt that our brand is growing at an incredible pace.”
Polestar’s long-term plan is to increase annual sales to approximately 290,000 cars by the end of 2025. So far, Polestar has taken over 32,000 customer orders for Polestar 2 since the start of 2022, representing an increase of 290% versus the same period in 2021.
In addition, Hertz is now adding the Polestar 1 electric performance hybrid to their Dream fleet as well, to allow customers to experience the high-performance carbon fiber sports GT firsthand.
“We’re excited to add this first delivery of Polestars to our fleet, expanding the opportunities for Hertz customers to enjoy the experience of driving an electric vehicle,” says Darren Arrington, executive vice president, Revenue Management and Fleet Acquisition for Hertz.
