Hertz, oil giant BP builds more than 100,000 charging stations for electric vehicles

Car rental company Hertz and oil giant BP announced Tuesday that they have signed a deal to develop and manage electric vehicle charging stations across North America.

BP’s EV charging business, BP Pulse, will build the charging stations and provide software and services to manage the stations and keep Hertz’s fleet charged. BP Pulse has a global target of more than 100,000 chargers by 2030.

Hertz said taxis and ridesharing companies will have access to some of the charging stations.

Hertz has set a goal of making a quarter of its fleet EVs by 2024 and intends to purchase 340,000 EVs from Tesla, Polestar and GM by 2027.

“Hertz is accelerating the adoption of electrification by investing in the largest electric vehicle rental fleet in North America and expanding the availability of charging stations,” Hertz CEO Stephen Scherr said in a press release.

The demand for electric cars has risen sharply in recent years. A lack of convenient charging stations has been a limiting factor for consumers considering purchasing electric vehicles. In June, the Biden administration announced new steps to build a national network of 500,000 charging stations.

BP CEO Bernard Looney said in the press release that the deal with Hertz is “just the beginning” for the company in the US. The deal builds on an existing program between the two companies, which has seen chargers installed at 25 Hertz airport locations.

BP Pulse brand chief Vic Shao said his software system will help Hertz charge its fleet efficiently by identifying the cheapest time of day to charge in a fluctuating electricity market.

“When you run a large fleet, it’s very difficult to scale unless you have a firm grip on the cost of your ‘fuel’, in this case electricity. They need to get a handle on operating costs,” Shao told CNBC on Tuesday.

https://www.ibtimes.com.au/hertz-oil-giant-bp-building-more-100000-electric-vehicle-charging-stations-1838855?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Hertz, oil giant BP builds more than 100,000 charging stations for electric vehicles

Fry Electronics Team

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