Hertz, BP partner on electric-vehicle charging stations

September 28, 2022

Car-rental company Hertz and energy firm BP have signed a deal to develop and manage a network of electric-vehicle charging stations across North America, reports The Wall Street Journal.

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

Hertz—which has agreed to buy cars from Tesla, Polestar, and General Motors—said it has tens of thousands of EVs available at 500 locations across 38 states. Its goal is for one-quarter of its fleet to be electric by the end of 2024, Hertz said.

The car-rental company last week said it had signed on to buy 175,000 EVs from GM over a five-year period.

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

Car-rental companies have been adding electric cars to their fleets in order to bulk up their premium offers and to help burnish their environmental credentials with investors.

Demand for electric cars has surged in recent years, but charging infrastructure across the United States has failed to keep pace—prompting some complaints of challenges in using electric cars, particularly on long, interstate trips.

Research contact: @WSJ