ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Dollar Steady as Markets Await U.S. Inflation Data 
Singapore Raises 2026 GDP Growth Forecast to 4.5%-5.5% as AI Boom Fuels Economy 
Canada, US Hold Fresh Trade Talks as August 19 Tariff Deadline Nears 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Pandora Shares Rise as Q2 Results Beat Forecasts, 2026 Outlook Raised 
CBA Posts Record A$10.98B Profit Despite Cautious Outlook 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
Cisco Forecasts Strong Fiscal 2027 Growth as AI Networking Demand Surges 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Nvidia Secures $500 Billion AI Infrastructure Push With Wall Street Giants 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Australia Housing Crisis Deepens as Worker Shortages Delay Homebuilding 
Add as a preferred source on Google
Hertz Corp., a rental car company, announced on Monday, April 4, that it signed a deal with Polestar, an electric vehicle startup firm, for the supply of EVs for its business. Based on the reports, the subsidiary of Hertz Global Holdings, Inc. will purchase up to 65,000 vehicle units in over five years.
According to Reuters, Hertz's decision to buy EVs from Polestar as part of its goal to have zero-emission models units in its vehicle lineup. The company said that the models from Polestar will start arriving in Europe starting this spring and later this year, the others will be brought to North America and Australia.
As part of the deal, Hertz will initially place an order for Polestar 2 sedan models. After the announcement of its deal with the Swedish automotive company, it was reported that the car rental firm's shares rose by 1.75% in Monday's pre-market trading.
"We are excited to partner with Polestar and look forward to introducing their premium EV products into our retail and rideshare fleets," Hertz's chief executive officer, Stephen Scherr, said in a press release. "Today's partnership with Polestar further builds on our ambition to become a leading participant in the modern mobility ecosystem and doing so as an environmentally-forward company."
The CEO went on to add, "By working with EV industry leaders like Polestar, we can help accelerate the adoption of electrification while providing renters, corporate customers and rideshare partners a premium EV product, exceptional experience and lower carbon footprint."
Polestar was able to sell 29,000 of its vehicle models last year and with its sales outcomes these days, it is expecting to sell even more and ultimately reach 290,000 units per year by the end of 2025. As for Hertz, this deal with the automaker is a major step for its plant to have the most expansive fleet of rental EVs in North America and become one of the biggest in the world, as per CNBC.
Meanwhile, Polestar was established in 2017 via a joint venture between the Chinese carmaker Geely and Volvo Cars. This year, it is reportedly set to merge with special purpose acquisition company (SPAC) Gores Guggenheim Inc. and go public through the merger.
