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Major rental and rental companies are starting to remove electric vehicles from their fleets. The first sign was such a car rental giant as Hertz. The AvtoVzglyad portal
No matter how you try to defeat rationality, no matter how you fool your brain, no matter how you pump incredible finances into a bottomless vat of ideologies, objective reality sooner or later takes its toll. If you put the hypocritical adherence to globalist ideas in your production activities above economic opportunism, there is a high risk that in the near future you will not be able to balance debit with credit. The management of one of the largest car rental companies was convinced of this the hard way.
More recently, the Hertz company suffered a severe blow from the insane measures to combat Covid: its shares collapsed by 80% and the far from illusory threat of bankruptcy loomed over it. After struggling to avoid an inglorious end, the company immediately plunged headlong into the investment roulette game, which was greatly facilitated by the personal preferences of interim CEO Mark Fields, a big fan of electric and autonomous vehicles.
He believed that the most promising investment would be the purchase of 100,000 (!) Tesla cars and bringing the electrification of the fleet to 25%. And what? Everybody does it! But it didn’t work. Instead of 100 thousand, the company managed to purchase only 48 thousand Tesla products, ceasing purchases in 2022, after which it announced that at this stage it would completely abandon the use of electric vehicles and replace them with cars with traditional combustion engines.
In justification, Hertz representatives complained that “eco-friendly” cars are obviously more profitable in routine maintenance, but are damn expensive to repair. And since the company, they say, did not try to reduce the risk of its cars being involved in accidents – and the power was limited and given only to experienced drivers – this did not bring significant results and did not contribute to increasing of the company’s profitability. company.
That’s why Hertz announced the sale of 20,000 Tesla electric vehicles from its US fleet at about half the price of the cheapest version. Losses from such a hasty implementation are estimated at $245 million. By the way, Hertz is not alone in its disappointment with “environmentally friendly” transport: in December 2023, the German rental company Sixt also planned to sell some of its electric Tesla cars.
A difficult economic situation is the best medicine to relieve the brain. And this doesn’t just apply to the automotive industry. According to the Global Energy Monitor, the capacity of coal-fired power stations will increase by 1% in 2022. The oil company Occidental Petroleum, which by its example promoted carbon dioxide capture technology, quietly closed the largest plant in the world that used this technology.
During the entire period, the company managed to earn about $200 million, despite investing four times as much in its construction. And finally, on February 2, 2022, the European Commission recognized nuclear and gas energy as “green” energy sources that do not contribute to the transition to a carbon-free economy.
Natoly Kolesnikov, Associate Professor, Department of Corporate Governance and Innovation, Russian Economic University. GV Plekhanov explained in one of his interviews that the rejection of the green transition policy, which is currently observed in hidden forms, is due to a combination of technological, economic and political factors:
“We can say that modern technologies for the use of renewable energy sources do not meet the needs of humanity and, in fact, become an obstacle to economic development,” the expert said.
This whole story with the ‘green’ economy, ‘green’ energy and ‘green’ vehicles should, it seems, fade into the background in light of the current hopes for the collapse of globalism and liberalism in the worst sense of these words. Russia appears to be one of the initiators of this hope and is at the forefront of the process. But here arises a misunderstanding that resembles cognitive dissonance.
In 2022, production of Evolute electric vehicles was launched in the Lipetsk region and in Moscow’s Moskvich. In 2023, the orderly ranks of transport champions, which are categorically denied by our cold and snowy nature, were added by “Electric Vehicles Manufacturing Rus”, tinkering with some battery-operated UAZ “Profi”. And we are threatened that the production of buzzing parodies of Avtotor cars will soon begin. , Sollers and even AVTOVAZ, God forgive me…
The money is successfully used by the E-Neva and Atom projects. What’s going on, gentlemen and comrades? Who is trying to bring down our already overburdened economy with delusions from the West? Our industrial (or commercial?) genius Denis Manturov answers a difficult question: “Based on the plans of Russian electric vehicle manufacturers, we can cautiously assume that by 2035 the share of electric vehicles on the Russian market could reach 25%.”
Oops..
No matter how you try to defeat rationality, no matter how you fool your brain, no matter how you pump incredible finances into a bottomless vat of ideologies, objective reality sooner or later takes its toll. If you put the hypocritical adherence to globalist ideas in your production activities above economic opportunism, there is a high risk that you will not be able to reconcile debit and credit in the near future. The management of one of the largest car rental companies was convinced of this the hard way.
More recently, the Hertz company suffered a severe blow from the crazy measures to combat Covid: its shares collapsed by 80% and the far from illusory threat of bankruptcy loomed over it. Having struggled to avoid an inglorious end, the company immediately plunged headlong into the game of investment roulette, which was greatly facilitated by the personal preferences of interim CEO Mark Fields, a big fan of electric and autonomous vehicles.
He believed that the most promising investment would be the purchase of 100,000 (!) Tesla cars and bringing the electrification of the fleet to 25%. And what? Everybody does it! But it didn’t work. Instead of 100 thousand, the company managed to purchase only 48 thousand Tesla products, ceasing purchases in 2022, after which it announced that at this stage it would completely abandon the use of electric vehicles and replace them with cars with traditional combustion engines.
In justification, Hertz representatives complained that “eco-friendly” cars are obviously more profitable in routine maintenance, but are damn expensive to repair. And since the company, they say, did not try to reduce the risk of its cars being involved in accidents – and the power was limited and given only to experienced drivers – this did not bring significant results and did not contribute to increasing of the company’s profitability. company.
That’s why Hertz announced the sale of 20,000 Tesla electric vehicles from its US fleet at about half the price of the cheapest version. Losses from such a hasty implementation are estimated at $245 million. By the way, Hertz is not alone in its disappointment with “environmentally friendly” transport: in December 2023, the German rental company Sixt also planned to sell some of its electric Tesla cars.
A difficult economic situation is the best medicine to relieve the brain. And this doesn’t just apply to the automotive industry. According to the Global Energy Monitor, the capacity of coal-fired power stations will increase by 1% in 2022. The oil company Occidental Petroleum, which by its example promoted carbon dioxide capture technology, quietly closed the largest plant in the world that used this technology.
During the entire period, the company managed to earn about $200 million, despite investing four times as much in its construction. And finally, on February 2, 2022, the European Commission recognized nuclear and gas energy as “green” energy sources that do not contribute to the transition to a carbon-free economy.
Natoly Kolesnikov, Associate Professor, Department of Corporate Governance and Innovation, Russian Economic University. GV Plekhanov explained in one of his interviews that the rejection of the green transition policy, which is currently observed in hidden forms, is due to a combination of technological, economic and political factors:
“We can say that modern technologies for the use of renewable energy sources do not meet the needs of humanity and, in fact, become an obstacle to economic development,” the expert said.
This whole story with the ‘green’ economy, ‘green’ energy and ‘green’ vehicles should, it seems, fade into the background in light of the current hope for the collapse of globalism and liberalism in the worst sense of these words. Russia appears to be one of the initiators of this hope and is at the forefront of the process. But here arises a misunderstanding that resembles cognitive dissonance.
In 2022, production of Evolute electric vehicles was launched in the Lipetsk region and in Moscow’s Moskvich. In 2023, the orderly ranks of transport champions, which are categorically denied by our cold and snowy nature, were added by “Electric Vehicles Manufacturing Rus”, tinkering with some battery-operated UAZ “Profi”. And we are threatened that the production of buzzing parodies of Avtotor cars will soon begin. , Sollers and even AVTOVAZ, God forgive me…
The money is successfully used by the E-Neva and Atom projects. What’s going on, gentlemen and comrades? Who is trying to bring down our already overburdened economy with delusions from the West? Our industrial (or commercial?) genius Denis Manturov answers a difficult question: “Based on the plans of Russian electric vehicle manufacturers, we can cautiously assume that by 2035 the share of electric vehicles on the Russian market could reach 25%.”
Oops..
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
