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Get in Touch Before it's here, it's on the Bloomberg Terminal LEARN MORE By David Welch and Rick Clough January 11, 2024 at 7:50 AM EST Updated on January 11, 2024 at 10:41 AM EST Save Hertz Global Holdings Inc. plans to sell a third of its US electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options. The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing . Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense. Have a confidential tip for our reporters? Get in Touch Before it's here, it's on the Bloomberg Terminal LEARN MORE Up Next Hertz to Sell 20,000 EVs in Shift Back to Gas-Powered Cars Terms of ServiceDo Not Sell or Share My Personal Information TrademarksPrivacy Policy(c)2024 Bloomberg L.P. All Rights Reserved. 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