"Hertz Halts Polestar EV Purchases Amidst Industry Shift"

Hertz has halted plans to purchase more electric vehicles from Polestar after facing significant financial losses from its previous EV acquisitions, including a fleet of 100,000 Teslas. The company cited price cuts, higher depreciation, and repair costs as reasons for the losses. This decision marks a setback for Hertz, which had aimed to have 25% of its fleet electric by 2024. The move reflects a broader trend of companies reevaluating their EV commitments due to softer demand and financial challenges.