Hertz first to offer EVs in China;
Only Rental Car Company Offering EVs on Three Continents
SHENZHEN, China, Aug. 26, 2011 /PRNewswire-Asia/ -- The Hertz Corporation (NYSE:HTZ), the world’s largest general used car rental brand, today announced a strategic partnership with BYD, the largest Chinese local auto brand, to combine electrical vehicle (EVs) sales and leasing as a mobility solution for MNC and government agencies in China.
Working together, the two companies will promote new energy applications to propel and further develop the EV marketplace in China. As part of this agreement, Hertz will introduce the BYD e6 into its Chinese rental fleet, making Hertz the first global rental car company to offer EVs on three continents, in Asia, Europe and North America.
"Hertz is once again first to market with innovation. We are first to offer EVs in China for businesses and consumers to rent. With our partnership with BYD we can offer a complete solution including rental and sales - another first for our industry," commented Mark Frissora, Chairman and CEO of Hertz. "Mobility infrastructure is critical for China’s growth and our solution provides a new platform for growth in China. China’s twelfth 5-year plan, coupled with the Chinese consumers' interest in EVs, support our partnership to further build out the EV infrastructure and create a solution that employs the latest technological innovations."
Hertz is the first rental company to provide a range of all-electric vehicles and charging stations on a global scale. Equipped with a 75KW motor and the BYD-developed 60 KWh FE battery, the e6 has a range of 186 miles (240 km) on a single charge in urban conditions, making it one of the longest range, pure EV in the world. The e6 is a 5-seat, crossover all electric vehicle. Its generous size features a spacious interior cabin with substantial legroom and headroom for passengers.
"Innovation is a consistent theme for Hertz and innovation is also the core of BYD's continuous fast growth - pure EVs for car rental in China is an innovative step for new energy industry development. This joint innovation for our two large enterprises in the field of pure EVs will certainly bring ‘green’ transportation to the forefront for the world to admire," Wang Chuanfu, Chairman and President of BYD said on the signing ceremony with Hertz.
In its first year, the Hertz Global EV initiative has grown from a goal to a market presence in more than ten cities, offering a diverse fleet of electric vehicles from manufactures including Nissan, GM, Mitsubishi, Renault, Daimler, Tesla and now BYD. As the world’s largest general-use airport car-rental brand, Hertz is uniquely positioned to introduce multiple groups of consumers - urban drivers, university students, travelers and corporations - to all-electric and plug-in hybrid vehicles. As part of its strategy, Hertz is forming partnerships with automakers, charging station providers, municipalities, NGOs, corporations and other stakeholders.
Hertz is uniquely positioned to introduce multiple groups of consumers - urban drivers, university students, travelers, and corporations - to the all-electric vehicle. Hertz is deploying EVs and plug-in hybrids at locations across US, Europe and now China.
Hertz plans to increase its global EV presence by deploying vehicles in other countries in the coming months. Hertz Global EV will continue to leverage the company’s rental and car sharing locations as bases for vehicles and charging stations, and tap into its technology - including sophisticated fleet management tools and the consumer-facing GPS systems, including the NeverLost GPS system in the U.S. - to help form an EV grid.
About Hertz
Hertz is the largest worldwide airport general use car rental brand operating from more than 8,500 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 83 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. The Company also has licensee locations in cities and airports in Africa and the Middle East. Product and services such as Hertz #1 Club Gold(R), NeverLost(R) in-car GPS system, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the Company's Prestige, Adrenaline and Green Traveler Collections, set Hertz apart from the competition. The Company also operates the Advantage car rental brand at 26 airports in the U.S. And, Hertz operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment for rent, including tools and supplies, and new and used equipment for sale, from approximately 325 branches in the United States, Canada, China, France, Spain, Italy and Saudi Arabia.
Hertz entered China since 2002 with outbound rental services. From 2009, Hertz established a WOFE and started to provide a wide range of domestic rental services in addition to its double-digits’ growing outbound rental business, serving both individual customers as well as corporate customers. Leveraging its internationally strong brand power as well as its DNA of keeping innovating, Hertz strives to grow its business fast in China via continuously differentiated and innovative leasing and rental services to satisfy customers’ needs.
About BYD
BYD is ranked #1 at the top of Bloomberg’s and BusinessWeek's 2009 Tech 100 List (http://www.businesswire.com/news/home/20100520006751/en/BYD-Tops-Bloomberg-Businessweek%E2%80%99s-12th-Annual-Tech) and is the leading manufacturer of advanced, environmentally-friendly battery technologies like the BYD’s Iron Phosphate battery. BYD’s solar panels and LED Lighting systems have CEC, TUV/CE and UL listings, and the company enjoys rapid growth in consumer electronics space and electrified transportation sector (including EVs, electric buses and EV chargers) manufacturing under its BYD brand. BYD is the fastest-growing Chinese automotive and green energy technology enterprise. The Company trades on the Hong Kong Exchange (HKE) under the ticker numbers (HK.0285 - BYD Electronics) and (HK.1211 - BYD Company Ltd.), as well as on the Shenzhen Stock Exchange under the ticker number (002594 - BYD Company Ltd.). For more information, visit www.byd.com , www.facebook.com/bydcompany or email pr@byd.com.
CONTACT (U.S.):
Paula Rivera
(201) 307-2824
privera@hertz.com
CONTACT (International):
Zoe White
+44 1895 553 887
zoewhite@hertz.com
