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Car rental giant Hertz's big bet on Tesla electric vehicles ends up paying off

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Summary
Nutrition label

66% Informative

Hertz has completed selling off some 30,000 electric vehicles from its fleet.

In the fourth quarter of 2023 , the company lost $245 million on the sale of EVs as Hertz worked to reduce its fleet of battery-powered vehicles.

The rapid depreciation of Tesla vehicles is largely responsible for these losses.

This is unfortunate news for Hertz and the broader EV world.