Two Wall Street veterans' plan to buy 100,000 Teslas to revive Hertz went awry due to slowing global EV demand. The bet on electric vehicle rentals backfired, leading to significant losses for the rental car company.
Two Wall Street veterans thought buying 100,000 Teslas could turn around Hertz. Their timing couldn’t have been worse. 🤐 https://t.co/rzult8i0KL via @BW
Here’s how Hertz’s bet on Teslas went horribly sideways. @ErikSchatzker explains https://t.co/pxXP6atVEm https://t.co/jWGSh4RC3V
Today's Big Take: Two Wall Street veterans thought buying 100,000 Teslas could turn around Hertz. Their timing couldn’t have been worse -- > from @ErikSchatzker & @DavidWelchBN for @business https://t.co/ehSyZlpv2Z via @BW
Two finance veterans had a big plan to turnaround beleaguered rental car company Hertz. The inside story of how it went horribly sideways. https://t.co/VsUrEQYL0F
This is a great read from @ErikSchatzker and @DavidWelch47 about Hertz's disastrous bet on Tesla cars. But also my other takeaway is that there's apparently some kind of Tom Brady curse with respect to brand endorsements, between this and FTX https://t.co/LxvTpf1OE0 https://t.co/o4cfansmpg
“Hertz is no different from any of the hapless investors in Tesla, or Rivian Automotive, or Lucid Group, or Polestar, who are now licking their wounds as global EV demand slows and the prospects grow dimmer for full electrification of the auto industry.” https://t.co/p3hnZ2555t
Two Wall Street veterans thought buying 100,000 Teslas could turn around Hertz. Their timing couldn’t have been worse. Read The Big Take ⬇️ https://t.co/H1Xk7NOvqg
Hertz’s big bet on electric vehicle rentals didn’t go as planned. What went wrong? Listen to The Big Take Podcast. https://t.co/yU8euWbXj5
Two Wall Street veterans thought buying 100,000 Teslas could turn around Hertz. Their timing couldn’t have been worse. https://t.co/h9xfRucqGH