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Hertz announces ‘strategic decision’ to slash EV fleet

(Credit: Hertz)

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Hertz announced on Thursday in a regulatory filing with the SEC that it has made a “strategic decision” to slash its electric vehicle fleet by 20,000 vehicles.

In the filing, Hertz said the figure is roughly one-third of its global EV fleet. “These vehicle dispositions, which were initiated in December 2023 and are expected to take place in an orderly fashion over the course of 2024, will cover multiple makes and models,” the company said in the filing.

The EVs that Hertz has put up for sale will “remain eligible for rental” until they ultimately sell. Hertz said that a portion of the proceeds from the sale will go into the purchase of combustion engine vehicles, which are being utilized at a higher demand.

Hertz has dealt with a major decrease in the value of its EV fleet, it said. During the fourth quarter of 2023, Hertz felt “approximately $245 million of incremental net depreciation expense related to the sale.”

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Bloomberg first reported the filing.

It also said that it expects the sale to better balance the supply against the expected demand for EVs, which was lower than expected.

The filing sheds light on why a fleet of Tesla vehicles have already been listed for sale in a program that Hertz is calling “Rent2Buy.” Some of the vehicles were listed on Hertz’s website for as little as $17,700 before tax credits could be applied.

Hertz now selling former Tesla rentals at bargain prices

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Currently, the maximum tax credit on a used EV is $4,000, so these Tesla Model 3 units that Hertz is selling could fall under $14,000.

Hertz was transparent in its filing that it believed a transition back to gas-powered vehicles would help the company’s financials.

It said:

“It is expected that the planned reduction in the EV fleet and reinvestment in additional ICE vehicles will improve Adjusted Corporate EBITDA across 2024, as vehicles are rotated, and in 2025, by which time all of the vehicles included in this plan are expected to be sold.”

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Hertz inked a $4.2 billion strategy to buy 100,000 EVs from Tesla in October 2021. There was no specific deal placed between the two companies, and CEO Elon Musk said that the Model 3s that Hertz purchased were bought at full price.

Hertz then expanded its EV offerings, offering the Model Y and cars from other manufacturers, like Polestar.

Hertz said during its Q3 Earnings Report that it was still learning the ropes of EV ownership, and that price cuts Tesla made on its lineup had hindered its financials as it missed profit estimates.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Elon Musk pivots SpaceX plans to Moon base before Mars

The shift, Musk explained, is driven by launch cadence and the urgency of securing humanity’s long-term survival beyond Earth, among others.

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Credit: @SecWar/X

Elon Musk has clarified that SpaceX is prioritizing the Moon over Mars as the fastest path to establishing a self-growing off-world civilization. 

The shift, Musk explained, is driven by launch cadence and the urgency of securing humanity’s long-term survival beyond Earth, among others.

Why the Moon is now SpaceX’s priority

In a series of posts on X, Elon Musk stated that SpaceX is focusing on building a self-growing city on the Moon because it can be achieved significantly faster than a comparable settlement on Mars. As per Musk, a Moon city could possibly be completed in under 10 years, while a similar settlement on Mars would likely require more than 20.

“For those unaware, SpaceX has already shifted focus to building a self-growing city on the Moon, as we can potentially achieve that in less than 10 years, whereas Mars would take 20+ years. The mission of SpaceX remains the same: extend consciousness and life as we know it to the stars,” Musk wrote in a post on X.

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Musk highlighted that launch windows to Mars only open roughly every 26 months, with a six-month transit time, whereas missions to the Moon can launch approximately every 10 days and arrive in about two days. That difference, Musk stated, allows SpaceX to iterate far more rapidly on infrastructure, logistics, and survival systems.

“The critical path to a self-growing Moon city is faster,” Musk noted in a follow-up post.

Mars still matters, but runs in parallel

Despite the pivot to the Moon, Musk stressed that SpaceX has not abandoned Mars. Instead, Mars development is expected to begin in about five to seven years and proceed alongside the company’s lunar efforts.

Musk explained that SpaceX would continue launching directly from Earth to Mars when possible, rather than routing missions through the Moon, citing limited fuel availability on the lunar surface. The Moon’s role, he stated, is not as a staging point for Mars, but as the fastest achievable location for a self-sustaining off-world civilization.

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“The Moon would establish a foothold beyond Earth quickly, to protect life against risk of a natural or manmade disaster on Earth,” Musk wrote.

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Elon Musk confirms Tesla Semi will enter high-volume production this year

Musk shared his update in a post on social media platform X.

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Credit: Tesla

Elon Musk has confirmed that Tesla will begin high-volume production of the Class 8 all-electric Semi this year. 

He shared his update in a post on social media platform X.

Musk confirms Tesla Semi production ramp

Tesla CEO Elon Musk reaffirmed on X that the Semi is finally moving into volume production, posting on Sunday that “Tesla Semi starts high volume production this year.”

The update comes as Tesla refreshed its Semi lineup on its official website, an apparent hint that the program is transitioning from limited pilots into wider commercial deployment. As per Tesla’s official website, two variants of the Semi will be offered to consumers: Standard and Long Range.

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The Standard trim offers up to 325 miles of range with an energy consumption rating of 1.7 kWh per mile and a gross combination weight rating of 82,000 pounds. The Long Range version pushes driving range to 500 miles, with Tesla noting a higher curb weight of about 23,000 pounds, likely due to a larger battery pack.

Both trims support fast charging, with Tesla stating that the Semi can recover up to 60% of its range in 30 minutes using compatible charging infrastructure.

Broader Tesla Semi rollout

Tesla has already delivered production Semi units to select partners, including snack and beverage giant PepsiCo as well as logistics behemoth DHL, which confirmed that its truck operates daily in California, traveling roughly 100 miles per day and requiring charging just about once a week.

The company has also partnered with Uber Freight, as noted in a Benzinga report, with Tesla executives previously describing the agreement as a way for fleet operators to experience the Semi’s lower operating and maintenance costs firsthand.

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With Musk now publicly committing to high-volume production, the Semi appears poised to move beyond pilot programs and into scaled commercial use, an important step in Tesla’s wider push to electrify heavy-duty and long-range trucking.

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Tesla tops France reliability rankings, beating Toyota for the first time

The milestone was celebrated by CEO Elon Musk on social media platform X.

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Credit: Tesla

Tesla has overtaken Toyota to become France’s most reliable car brand in 2025, as per a new nationwide reliability ranking published by Auto Plus magazine.

The milestone was celebrated by CEO Elon Musk on social media platform X.

Tesla tops reliability ranking in France

Tesla ranked first overall in Auto Plus’ 2025 reliability study, surpassing long-time benchmark Toyota across all powertrain types, including gasoline, hybrid, and electric vehicles.

The ranking, published on February 6, 2026, evaluated early problems reported in 2025 on vehicles registered in France since January 1, 2018, with fewer than 150,000 kilometers on the odometer, as noted by a Numerama report. This marked Tesla’s first appearance in the magazine’s reliability rankings, which was enabled by the company’s growing vehicle population in the French market.

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According to the publication, Tesla vehicles showed no recurring major defects beyond isolated suspension arm issues, which are covered under the company’s four-year or 80,000-kilometer warranty. Other reported issues were described as minor, including occasional screen glitches and door handle concerns.

Why this ranking differs from earlier criticism

Tesla’s top placement contrasts sharply with past assessments from the German Automobile Club (ADAC), which previously ranked the Model 3 and Model Y low in its technical inspection reports. Auto Plus noted that those inspections were focused heavily on factors such as brake disc wear, which are not necessarily the best benchmarks for overall vehicle reliability.

By focusing instead on real-world reliability data and early ownership issues, Auto Plus’ methodology offered a broader picture of how vehicles perform over time rather than how individual components age under inspection standards. The publication emphasized that electric vehicles, with far fewer moving parts than combustion-engine cars, are not inherently less reliable.

While the ranking supports the case that electric vehicles can match or exceed the reliability of traditional brands, the magazine acknowledged limitations in its analysis. Still, Tesla’s debut at the top of the list underscores how perceptions of EV durability are shifting as more long-term data becomes available in major automotive markets like France.

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