SOURCE: The Hertz Corporation

The Hertz Corporation

November 18, 2010 07:56 ET

Hertz and NRG Energy Inc. Sign Agreement to Begin Build-Out of Texas Electric Vehicle Infrastructure

Companies Support Nation's First Privately Funded, Comprehensive Electric Vehicle Ecosystem

PARK RIDGE, NJ--(Marketwire - November 18, 2010) -  The Hertz Corporation (NYSE: HTZ) has partnered with NRG Energy Inc. (NYSE: NRG) to support development of a charging infrastructure and services for electric vehicles (EV) in Texas. As part of the agreement, Hertz will support NRG's plans to create and manage a network of NRG's eVgotm branded charging stations across five Texas cities (Houston, Dallas, Fort Worth, Austin and San Antonio) by supplying vehicles, research and expertise to promote the adoption of EVs and plug-in electric vehicles (PHEVs) in Texas and beyond.

"Our partnership with NRG illustrates how industry players can come together to encourage electric vehicle trial and adoption. This partnership will provide consumers and businesses with an economical and convenient option for using electrical vehicles," said Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "Hertz and NRG are committed to expanding the Texas model to other cities, supporting the creation of EV infrastructure platforms nationwide, a critical next step in further developing the EV infrastructure."

The agreement is part of Hertz's strategy to enter into partnerships that will help scale up electric vehicle and plug-in hybrid usage for the general public. As part of its partnership, Hertz and NRG will work to advance Hertz's Texas EV fleet and jointly develop the charging infrastructure through the eVgo network.

"Hertz, with its vast network of car rental and servicing facilities across Texas and the nation, has a critical role to play in giving EV owners the 'range confidence' and distance driving flexibility of conventional vehicles," said David Crane, President and CEO, NRG Energy. "As such, we are very pleased to work with Hertz as a launch partner in bringing the value of electric vehicles to Houston and soon, across Texas and the nation."

The first eVgo high-powered rapid charging stations are expected to be installed in February 2011. Through this important contribution to the network, Houston's EV drivers will always have a charging station within easy access along major thoroughfares within 25 miles or more of city center. The agreement also provides opportunities to expand the partnership to other markets as NRG finalizes its plans for future eVgo cities.

In addition to NRG, Hertz is forming strategic partnerships with manufacturers, charging station providers, municipalities, NGOs, corporations and other stakeholders. To date, the company has said it will supply EVs and PHEVs from a range of manufacturers including Nissan, GM, Toyota and Mitsubishi. In Europe, Hertz EVs have already been introduced in London and Zurich, with additional cities adding EVs this autumn.

Hertz 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 car rental and car-sharing basis at this scale.

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, 25,000 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 NRG
NRG Energy, Inc., a Fortune 300 and S&P 500 Index company, owns and operates one of the country's largest and most diverse power generation portfolios. Headquartered in Princeton, NJ, the Company's power plants provide more than 24,000 megawatts of generation capacity -- enough to supply more than 20 million homes. NRG's retail business, Reliant Energy, serves 1.6 million residential, business, commercial and industrial customers in Texas. A past recipient of the energy industry's highest honors -- Platts Industry Leadership and Energy Company of the Year awards, NRG is a member of the U.S. Climate Action Partnership (USCAP), a group of business and environmental organizations calling for mandatory legislation to reduce greenhouse gas emissions. NRG Energy is a founding member of the Electrification Coalition, a nonpartisan, not-for-profit group of business leaders committed to promoting policies and actions that facilitate the deployment of electric vehicles on a mass scale. More information is available at www.nrgenergy.com and www.evgonetwork.com.