Electric Vehicle Market News: Hertz Slashes EV Fleet; Siemens Completes Heliox Acquisition
There has been a mix of positive and negative news in the EV market lately, with reports of declining consumer demand intermingled with reports of production increases from some automakers and new acquisitions.
Hertz hit the headlines on Jan. 11 with the news that it was trimming its EV fleet of rental cars by 20,000 and investing the proceeds from the sales of these EVs to buy more gas-powered vehicles. The company moved aggressively into EVs back in 2021 by purchasing 100,000 Tesla Model 3 vehicles. On CNBC’s Squawk Box, Stephen Scherr, the company’s CEO said the company is not moving totally out of EVs, but needs to watch the higher costs associated with its EV fleet.
In other EV market news, Siemens announced on Jan. 11 that it has completed the acquisition of Heliox, a provider of DC fast charging solutions for buses and trucks. According to the press release, the acquisition of the Dutch company complements Siemens’ existing e-mobility charging portfolio, adding products and solutions ranging from 40 kilowatts (kW) to megawatt charging solutions for depots and en-route charging.
Siemens CEO of Smart Infrastructure Matthias Rebellius said in the press release that Siemens is seeing “unparalleled growth in the EV charging infrastructure market.”
About the Author
Jim Lucy
Editor-in-Chief
Over the past 40-plus years, hundreds of Jim’s articles have been published in Electrical Wholesaling and Electrical Marketing newsletter on topics such as the impact of new competitors on the electrical market’s channels of distribution, energy-efficient lighting and renewables, and local market economics. In addition to his published work, Jim regularly gives presentations on these topics to C-suite executives, industry groups and investment analysts.
He launched a new subscription-based data product for Electrical Marketing that offers electrical sales potential estimates and related market data for more than 300 metropolitan areas, and in 1999 he published his first book, “The Electrical Marketer’s Survival Guide” for electrical industry executives looking for an overview of key market trends.
While managing Electrical Wholesaling’s editorial operations, Jim and the publication’s staff won several Jesse H. Neal awards for editorial excellence, the highest honor in the business press, and numerous national and regional awards from the American Society of Business Press Editors. He has a master’s degree in Communications and a bachelor’s degree in Journalism from Glassboro State College, Glassboro, N.J. (now Rowan University).