SOURCE: The Hertz Corporation

The Hertz Corporation

September 21, 2010 12:57 ET

Hertz Commits to Electric Vehicle Mobility Platform

Hertz Global EV Will Catalyze Widespread Use of Electric Vehicles

NEW YORK, NY--(Marketwire - September 21, 2010) - The Hertz Corporation (NYSE: HTZ) announced today a Commitment to Action at the 2010 Annual Meeting of the Clinton Global Initiative (CGI) to bring the next generation of electric vehicles to the general public through its car rental and car sharing operations.

As the world's largest general-use airport car-rental brand, Hertz is uniquely positioned to introduce multiple groups of consumers -- urban drivers, university students, travelers and corporations -- to all-electric and plug-in hybrid vehicles. Hertz's leadership in this initiative will catalyze other partners and cities to provide additional infrastructure for mass scaling of electric mobility.

Hertz and its partners are planning to roll out the EV rental program starting this autumn with full-scale deployment in both the U.S. and other countries beginning in 2011. Hertz Global EV will be the first to provide a range of all-electric vehicles (EV) and plug-in hybrid electric vehicles (PHEV) and charging stations on a rental and car-sharing basis at this scale.

"Our Hertz Global EV program will galvanize support for building out the infrastructure platform necessary to make electric vehicle travel an everyday reality," said Mark P. Frissora, Hertz's Chairman and Chief Executive Officer. "With our rental and car sharing expertise, industry relationships and global footprint, we are in an ideal position to lead this new frontier in transportation. This is the game-changer for electric mobility."

Hertz is building partnerships that will help scale up electric vehicle and plug-in hybrid usage for the general public. Hertz is forming strategic partnerships with manufacturers, charging station providers, municipalities, NGOs, corporations and other stakeholders.

"Done right, electric vehicles can help the environment and represent a leap forward in transportation," said Fred Krupp, President, Environmental Defense Fund. "We look forward to working with Hertz and its partners to ensure that this leap drives measurable benefits for both consumers and the planet."

In February, Hertz announced a joint commitment with Nissan to bring the 100 percent electric, zero-emission Nissan LEAF to its select US and European car rental and sharing locations. Additionally, Hertz will supply EVs and PHEVs from other manufacturers including GM, Toyota and Mitsubishi. In Europe, Hertz EVs have already been introduced in London and Zurich with additional cities adding EVs this fall. 

During the next several months, Hertz Global EV will leverage the company's rental and car sharing locations as bases for vehicles and charging stations, and tap into its technology -- including sophisticated fleet management tools and the consumer-facing NeverLost GPS system -- to help form an EV grid. 

Looking forward, the company will build on its EV grid and explore new opportunities -- including potentially bringing other areas of the business, including Hertz Equipment Rental, into Hertz Global EV. 

For more information, visit www.hertz.com or www.connectbyhertz.com.

About Connect by Hertz
Connect by Hertz, Hertz's global car sharing club, has more than 700 vehicles, 20,000 members and more than 200 locations worldwide, including corporate offices and universities. Connect by Hertz offers a variety of vehicles available for online reservation at competitive rates. All cars are equipped with Eileo® technology, and benefits covered by the hourly rate include gas, insurance, GPS turn-by-turn navigation, 24/7 roadside assistance, 24-hour Member Care Center communication, and 180 free miles per day. For more information, visit www.connectbyhertz.com.

About Hertz
Hertz is the largest worldwide airport general use car rental brand operating from more than 8,300 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 81 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, in-car GPS system, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the Company's Prestige, Fun and Green Collections, set Hertz apart from the competition. The Company also operates the Advantage car rental brand at 26 airports in the U.S. and the global car sharing club, Connect by Hertz, in New York City, Berlin, London, Madrid and Paris. And, Hertz operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment, including tools and supplies, and new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers from approximately 325 branches in the United States, Canada, China, France, Spain and Italy.

About the Clinton Global Initiative (CGI)
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world's most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,700 commitments valued at $57 billion, which have already improved the lives of 220 million people in more than 170 countries. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship, MyCommitment.org, an online portal where anybody can make a Commitment to Action, and CGI Lead, which engages a select group of young leaders from business, government, and civil society. For more information, visit www.clintonglobalinitiative.org.