Hertz, BP partner in charging stations for electric vehicles

Hertz said it aims for a quarter of its fleet to be electric by the end of 2024.


Photo:

ANDREW KELLY/REUTERS

The car rental company Hertz Global Holdings Inc.

HTZ 6.83%

and the energy company BP BP 2.55%

PLC said it signed an agreement to develop and manage a network of electric vehicle charging stations across North America.

BP Pulse, which is BP’s EV charging business, will operate and manage Hertz’s charging infrastructure under the memorandum of understanding, the companies said. The charging infrastructure will be open to taxi drivers and chauffeurs, as well as the general public, the companies said.

Hertz, which has signed agreements to buy cars from Tesla Inc.,

Polestar and General Motors Co., said it has tens of thousands of electric cars available at 500 locations in 38 states. Its goal is for a quarter of its fleet to be electric by the end of 2024, Hertz said.

The car rental company said last week it had agreed to buy 175,000 electric cars from General Motors Co. over a five-year period.

Hertz said it has already invested in thousands of EV charging stations across its locations. The deal with BP will help expand its charging footprint.

Car rental companies have added electric cars to their fleets to boost their premium offerings and help polish their environmental credentials with investors.

Demand for electric cars has increased in recent years, but charging infrastructure across the U.S. has not kept pace, prompting some complaints about challenges using electric cars, especially on long, interstate trips.

The Climate Act recently passed by the Senate may knock thousands of dollars off the sticker price of electric cars, but it also redefines which cars are eligible. WSJ’s George Downs breaks down the new rules and what they mean for the electricity industry. Illustration: George Downs

Write to Will Feuer at will.feuer@wsj.com.

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