Polestar and Hertz announced a new deal on Monday which will see the Swedish EV brand supply Hertz with up to 65,000 electric vehicles over the next five years. The agreement will serve as a welcome guarantee of business for Polestar's latest form as an EV-only offshoot from Volvo. Deliveries to Hertz will initially consist of the Polestar 2 fastback before the compact SUV Polestar 3 enters production later this year. There's also been hints of future, as-yet unreleased Polestar models coming along as part of the deal.
Polestar's sales for 2021 nearly tripled its figures from the previous year, and the company hopes to build on this by doubling those figures again in 2022 with the ultimate goal of selling 290,000 vehicles a year by 2025. Hertz's first Polestar deliveries will take place in Europe this spring, with North America and Australia starting to see Polestars in rental lots by the end of the year.
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Hertz's 20% Plan
The Polestar announcement comes as part of Hertz's commitment to making electric vehicles account for at least 20% of its global rental fleet. Tesla vehicles are already available for rent from Hertz, with investments also being made into charging infrastructure to support other brands. Hertz-rented Teslas currently use the Supercharger network with fees added to customers' bills.
Hertz also turned to Elon Musk and Co. to bolster its EV ranks, with a $4.2 billion deal announced in October for 100,000 Tesla vehicles. Made up with a majority of Model 3s and more recently Model Ys, Hertz reportedly paid the full sticker price on each car. Whether the same can be said of the Polestar deal is unknown at this point.
Hertz has a ridesharing rental initiative up and running in more than 30 markets around the US which the new Polestar vehicles will become part of. Currently, drivers can rent one of up to 50,000 Teslas Model 3s for $334 a week with insurance and maintenance covered as part of the package. Internal combustion cars can be rented for ridesharing at a lower price than the in-demand Teslas with fuel included in the price.
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James Walker is an Automotive Journalist at Torque News focusing on Lucid Motors. If it's got wheels he's interested, and he's looking forward to seeing what kind of cars the EV revolution brings us. Whether it's fast, slow, new, or old, James wants to have a look around it and share it in print and on video, ideally with some twisty roads involved. You can connect with James on Twitter, Instagram, and LinkedIn.