Hertz in pact with Carvana to boost online sales
HTZZ +1.03%Oct. 27, 2021 7:21 AM ET- Hertz (OTCPK:HTZZ) and Carvana (NYSE:CVNA) are partnering nationwide, following a pilot in September, to facilitate Hertz to utilize Carvana's online transaction technology and logistics network to expand vehicle disposition channels.
- The partnership with Carvana is significant to Hertz as it embarks on an ambitious effort to transform its fleet and the rental car industry.
- "Our new partnership with Carvana will help Hertz provide a tech-enabled and scalable channel through the lifecycle of our fleet," said Mark Fields, Hertz interim CEO.
Stellantis pushes ahead with electric vehicle plans
STLA -0.34%Oct. 27, 2021 7:12 AM ET- Stellantis (NYSE:STLA) is setting up four new electrified platforms to help build up to two million vehicles a year.
- "The four platforms are designed with a high level of flexibility and parts sharing, to create scale economies," notes a Stellantis exec.
- The new EV platforms are part of Chief Executive Carlos Tavares' overall plan to combined the company's 14 brands to achieve a goal of over $5.8B in annual synergies and accelerate the transition to cleaner mobility.
- Stellantis will invest over €30M euros over the next four years to electrify the model lineup.
- Last week, Stellantis formed a key joint venture JV with Samsung SDI for lithium-ion battery production in North America.