By Will Feuer
Car-rental company Hertz Global Holdings Inc. and energy firm BP PLC said they have signed a deal to develop and manage a network of electric-vehicle charging stations across North America.
BP Pulse, which is BP's EV charging business, would power and manage Hertz's charging infrastructure under the memorandum of understanding, the companies said. The charging infrastructure will be open to taxi and ride-sharing drivers, as well as the general public, the companies said.
Hertz, which has inked deals to buy cars from Tesla Inc., Polestar and General Motors Co., said it has tens of thousands of EVs available at 500 locations across 38 states. Its goal is for one-quarter of its fleet to be electric by the end of 2024, Hertz said.
The company said it already has invested in thousands of EV charging stations across its locations. The deal with BP will help expand its charging footprint.
Demand for electric cars has surged in recent years, but charging infrastructure across the U.S. has failed to keep pace, prompting some complaints of challenges in using electric cars, particularly on long, inter-state trips.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
September 27, 2022 07:36 ET (11:36 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.