Ford Authority

Ford CEO Jim Farley Salutes Former CEO Mark Fields For Hertz EV Pivot

Ford CEO Jim Farley has made it a point to praise his rivals – including Tesla CEO Elon Musk – on numerous occasions via Twitter in recent months, even though he openly admits that those same rivals pose a major threat to Ford’s business. However, Farley’s most recent bit of praise isn’t aimed at a direct rival – but rather, one of his predecessors – former Ford CEO and current interim Hertz CEO Mark Fields, who recently announced that the 100+-year-old rental car company is working to finalize a deal to buy 100,000 Tesla EVs.

“Kudos to Mark Fields and the Hertz team for steering a great American brand into the electric and connected future,” Farley said. “Our industry needs this kind of bold leadership.” Farley also added a snapshot of Hertz’s stock, which has enjoyed a 55 percent gain since the announcement late last month. It’s a remarkable turnaround for a company that was forced to file for bankruptcy and sell off a large portion of its fleet just last spring when the COVID-19 pandemic brought the travel industry to a complete halt.

If/when the company finalizes its deal with Tesla, it will give Hertz the largest EV rental fleet in North America, as well as one of the largest in the world, representing around 20 percent of the rental car company’s current fleet. Customers who wish to rent a Tesla will reportedly be able to do so in select U.S. and European markets beginning this month. Customers will have access to Tesla’s Supercharger charging network, while Hertz also plans to add a combination of Level 2 and DC fast chargers in roughly 65 markets by the end of 2022 and over 100 markets by the end of 2023.

We’ll have more industry news to share soon, so be sure and subscribe to Ford Authority for non-stop Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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