Thndr Claps » U.S. Claps » Automotive 🚗 » GM riding the EV frenzy 🚘
The ClapGM (NYSE: GM) will sell up to 175,000 EVs to Hertz (NASDAQ: HTZ) over the next 5 years.The DeetsGM will begin supplying Hertz with EVs in Q1 2023, with Hertz aiming to have a fleet of EVs by the end of 2024.GM wants to increase its efforts in the production of EVs, with its goal being to reach a production capacity of 1 million EVs by 2025.Why this MattersGM is following in the footsteps of Tesla (NASDAQ: TSLA) and Polestar (NASDAQ: PSNYW), who also struck an agreement with Hertz to provide EVs.What NowThe increased sales of EVs to Hertz are a strong indicator that battery-powered vehicles are becoming increasingly popular among consumers.
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