Hertz absorbed a massive loss after electric vehicle fire sale
The rental giant's 2021 EV gamble resulted in a lousy payoff for Hertz.
In 2021, rental car giant Hertz (HTZ) took a massive gamble that would define an unfortunate part of its future.
To respond to consumer interest and the growing adoption of electric vehicles, Hertz announced "a significant investment" in EVs, including an initial order of 100,000 Tesla (TSLA) vehicles and charging infrastructure by the end of 2022.
