Following Hertz, the company is the second global car rental conglomerate to sustain sizable losses due to lower customer demand and usage of electric rental cars.
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The declining resale values of electric rental fleet vehicles and consumer reluctance is generating financial headwinds for the global car rental company.
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More competitive pricing and consumer reluctance are taking their toll on the automaker's ambitious electrification plans.
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The car rental giant is running into some realities about its electric vehicles prompting a "not so fast" approach to fleet electrification.
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The maker of commercial electric vehicles won’t meet its projected production target of 300-400 vehicles in 2020 in part due to more than 36% of its production-related staff having contracted the coronavirus or quarantined awaiting results.
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