Hertz is selling off its electric vehicles and going back to gas-powered

Electric car charging
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It appears a major car rental company is reversing course on an initiative to make the move towards electric vehicles.

Hertz has announced it will sell a large amount of its electric fleet and transition back to gas-powered automobiles.

The company says it will sell off 20,000 EVs, a number that makes up about one-third of its entire available electric vehicle selection.

Chevrolet, Polestar and Tesla models will be among those sold.

In announcing the shift, Hertz CEO Stephen Scherr pointed to higher expenses for damage and depreciation as the major factor in returning to gas-powered vehicles.

The move comes just two years after plans were revealed to convert a quarter of its rental selection to EVs by the end of 2024.

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