hertz global - HTZ

Hertz Global reported higher-than-expected quarterly losses on Thursday, which sent shares down by more than 24%. The company's total losses were $588 million.

Hertz CEO Stephen Scherr is resigning after the car rental company's investment in electrical vehicles failed over high costs and low demand.

Electric vehicle drivers shared their frustrations after winter weather across the U.S. created new issues for charging and operating their cars.

Months before Hertz's surprise announcement that it would sell-off much of its electric vehicles, the White House praised the company's green efforts.

Rental car giant Hertz on Thursday said it will sell about 20,000 electric vehicles from its U.S. fleet and expects to invest in more gas-powered vehicles.

The White House on Wednesday announced that Tesla has committed to expand its electric vehicle charging network and meet the Department of Transportation's new universal charging standards.

To date, at least 230 cases have been filed against Hertz through an expansive lawsuit in Delaware bankruptcy court seeking over $750 million in damages.

Hertz claimed that these incidents are "rare and happen only after exhaustive attempts to reach the customer."

Hertz is adding the Tesla Model Y to its rental fleet alongside the Model 3. The vehicles are part of a planned 100,000 vehicle purchase from the automaker.

Nearly two years after the coronavirus pandemic brought much of the U.S. economy to a halt, public companies are recording some of their best ever financial results.