The chief executive officer of rental car company Hertz Global Holdings Inc. is resigning after a bet on electric vehicles crumbled.article continued:
The company began selling approximately 20,000 of its electric vehicles toward the close of 2023, the magazine continued. “The company is blaming its recent quarterly profits miss on Tesla’s price cuts and unexpectedly high EV repair costs, which both caused big problems due to Hertz’s decision to build a large fleet of Tesla vehicles,” the outlet said.
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