Seems it would be appropriate to address Elon instead of EVs given your article choice.
That said, I think this is a Hertz failure.
Cost the Hertz CEO his high paying job.
Misleading clickbait title.
That’s like saying Vroom went out of business because of gas cars. These guys just got greedy during the shortage of the pandemic that sent used car prices through the roof. When they went down, they got caught with high priced inventory they couldn’t get rid of or sold at a loss. That’s what happened to Hertz.
Absolutely was a Hertz failure. The CEO sent them down a path and the board must not have done their job and questioned it what a mess.
Or Hertz failure. Maybe Hertz Went All In on EV and Busted.
The y didn’t foresee Tesla cutting prices I half. Part of Hertz business model is to resell their cars after they rent them out.
Maybe that part was not so foreseeable. What was foreseeable was that why would someone want to rent an electric car in some unfamiliar city when there isn’t a charging station on every corner. Overestimated demand for these cars so now they are ready to sell them to adjust their fleet to demand and the price drops.