Bullboard - Stock Discussion Forum Exro Technologies Inc T.EXRO

Alternate Symbol(s): EXROF | T.EXRO.WT | T.EXRO.WT.A

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Exro Technologies Inc. is a clean technology company. The Company is engaged in developing power control electronics that expand the capabilities of electric motors and batteries. Its technologies include e-mobility (Coil Driver) and stationary energy storage (Cell Driver). The Coil Drive technology is an adaptive traction inverter that replaces the standard 3-phase inverter in electric... see more

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Exro Technologies Inc > OT on the real cost of EV maintenance

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Post by uggg on Jan 11, 2024 3:29pm

OT on the real cost of EV maintenance

(Bloomberg) — Hertz Global Holdings Inc. plans to sell a third of its US electric vehicle fleet and reinvest in gas-powered cars due to weak demand and high repair costs for its battery-powered options.

The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz will record a non-cash charge in its fourth-quarter results of about $245 million related to incremental net depreciation expense.

The dramatic about-face, after Hertz announced plans in 2021 to buy 100,000 Tesla Inc. vehicles, underscores the waning demand for all-electric cars in the US. EV sales growth slowed sharply over the course of 2023, rising just 1.3% in the final quarter as consumers were put off by high costs and interest rates.

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Comment by nedstar71 on Jan 11, 2024 3:44pm

Bravo!

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Comment by sorrenson on Jan 11, 2024 4:33pm

People renting cars are in hotels in towns they dont know. So no self charging at home, no plugs at hotels and no idea where to find a charging station. Also rental cars get lots of miles with vacationers . No one wants the hassle. This is in no way reflective of the EV market as a whole.

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Comment by nedstar71 on Jan 11, 2024 5:01pm

While your points are valid, I think saying it is no way reflective of the EV market as a whole is wrong. A large majority of people in North America don't want to own, rent, or be constrained by an EV whether on their home turf or not, regardless of what left wing media and dictators like Guilbeault and Trudeau would have you believe. For most, as you say it's just not worth ...more

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Comment by jboom70 on Jan 11, 2024 5:33pm

If you leave the house every day with a full tank do you need to fill up somewhere?

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Comment by uggg on Jan 11, 2024 8:21pm

Actually sorrenson, I was more pointing out the maintenance which has been touted as less by EV pushers. So, yes it is reflective on the whole market as it is a direct comparison between EV's & ICE & in the real world we see the results down't lie, ice are more cost effective. That is after all the subsidies for EV's & all the disinsentives for ICE such as gas, carbon tax ...more

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