Bill Ackman’s Pershing Square Capital Management has amassed a nearly 20% stake in Hertz in a bet on the rental car company’s turnaround plan and that tariffs will boost the value of its vehicles.
April 18, 2025Business, Equipment
Hertz Wins Over Ackman in Bet Tariffs Will Raise Value of Cars
Business, Equipment, Fuel
Sources: Hertz Is Exploring Options for Raising Financing
Hertz Global Holdings is exploring options to raise financing weeks after the company’s new CEO pledged to get it back on track following a failed bet on electric vehicles, according to people with knowledge of the matter.
May 30, 2024Business, Technology, Equipment
Hertz Reports $392 Million Loss
Hertz reported a loss that was nearly three times worse than analysts expected as it accelerated sales of electric vehicles to reduce its fleet of Tesla models that have weighed on profits.
April 25, 2024Business, Technology
Hertz Plans Cost Cuts After Earnings Miss on EV Adjustment
Hertz Global Holdings Inc. is looking to cut costs after it missed analysts’ fourth-quarter estimates as it sold down its fleet of Tesla Inc. electric vehicles.
February 6, 2024Business, Technology, Equipment
Hertz to Sell 20,000 EVs in Shift Back to Gas-Powered Cars
Hertz Global Holdings Inc. plans to sell a third of its U.S. electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options.
January 11, 2024Business, Technology, Fuel
Hertz Plans EV Fleet Expansion With 65,000 Polestars
Hertz Global Holdings Inc. plans to buy 65,000 electric vehicles from Polestar over the next five years, a bet that its renters are both EV-curious and eager to drive brands beyond Tesla.
April 4, 2022Business, Technology, Fuel, Autonomous
Hertz Teams With Uber, Carvana in Electric Shift
Hertz Global Holdings Inc., fresh off a blockbuster order for 100,000 Teslas, reached an exclusive agreement to supply Uber drivers with electric vehicles and signed up Carvana Co. to dispose of rental cars it no longer wants.
October 27, 2021Business, Technology, Safety
Hertz Orders 100,000 Teslas in Rental Market Shake-Up
Hertz Global Holdings Inc., barely four months out of bankruptcy, placed an order for 100,000 Teslas in the first step of an ambitious plan to electrify its rental-car fleet, according to people with knowledge of the matter.
October 25, 2021Business
Hertz Shares Surge on Sale to Knighthead
In a deal that hands a huge victory to shareholders of bankrupt Hertz Global Holdings Inc., the car renter picked Knighthead Capital Management and Certares Management to buy the company out of Chapter 11, capping a dramatic brawl for control of the company.
May 12, 2021Business
Hertz Deems Knighthead Bid Superior in Exit From Bankruptcy
Hertz Global Holdings Inc. said a proposal from Knighthead Capital Management and Certares Management to buy the car renter out of bankruptcy was superior to an existing offer from a rival investor group.
May 5, 2021