(Bloomberg) — Avis Budget Group Inc. will play a big role in the increased adoption of electric cars in the U.S., Joe Ferraro, the rental-car company’s chief executive officer, told analysts on a call Tuesday.
- Ferraro: “You’ll see us going forward be much more active in electric scenarios as the situation develops over time.”
- Avis wants to see more EV models available to guard against parts shortages or recalls, CEO says
- Company didn’t disclose any plans to add EVs to fleet after rival Hertz Global Holdings Inc. agreed to buy 100,000 cars from Tesla Inc.
- “The reason you haven’t heard from us publicly is because for competitive reasons, we like to execute on our strategy before announcing it,” Chief Financial Officer Brian Choi says on call
- Shares of Avis rose 56% to $267.68 as of 10:07 a.m. in New York
- Earlier: Tesla Squanders Some of $300 Billion Gain on Musk’s Hertz Tweet
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