How the massive EV transition is starting in the car rental industry

Not long after Hertz Global Holdings emerged from bankruptcy last summer, reorganized after the Covid-19 pandemic stalled the entire car rental industry, the Estero, Florida-based company boldly announced a $4.2 billion deal to purchase 100,000 Tesla fully electric vehicles (EVs) by the end of 2022. Just like that, the race was on within the industry to transition to EVs from internal combustion engine (ICE) models.

While Hertz was first off the starting blocks, its two biggest rivals, Enterprise Holdings and Avis Budget Group, have since joined in. But just like the full-scale adoption of EVs among American…