Hertz ties up with BP for EV charger installations in North America

(Reuters) – Hertz Global Holdings Inc said on Tuesday it has partnered with a unit of oil giant BP to install electric vehicle (EV) charging stations across North America to power its fleet of eco-friendly cars.

The car rental firm, which did not disclose the terms of the deal, aims to electrify one-quarter of its fleet by the end of 2024.

Hertz has made large-scale EV purchases from Tesla Inc, General Motors Co and Polestar amid rising consumer preference for EVs. It has laid out plans to have 3,000 charging stations in North America by the end of 2022.

As per the deal, bp pulse will manage the EV charging hubs, which will be open to Hertz customers as well as the general public.

Bp pulse aims to install more than 100,000 chargers globally by 2030, with about 90% of them being rapid or ultra-fast chargers.

Shares in Hertz were up 3.8% at $16.31 before the bell.

(Reporting by Priyamvada C in Bengaluru; Editing by Vinay Dwivedi)