Denver and Hertz: Why a New Public-Private Partnerships Can Expand the Growth of EVs

EVs, or electric vehicles, are just as common today as gas-powered vehicles. But the benefits of EVs have skyrocketed the use of them in every aspect of the auto industry, and these advantages are responsible for their expanding growth. As EVs continue to increase in numbers on the road through regular interest, adding on to that factor are public-private partnerships, which will play a major role in that.

Car rental company Hertz, recently announced a partnership with the city of Denver with the main purpose of adding more EVs to the roadways. This public-private partnership will not only bring several benefits, but also help introduce EVs to new drivers. Analyst and Green Econometrics founder, Michael Davies, said that EVs offer a lot of satisfactory gains and through the public-private partnership, a variety of incentives, such as business opportunities, improved return on investment, better sustainability, less air pollution.

Last year, President Biden announced a $5 billion bipartisan bill for EV infrastructure. Davies said that this public-private partnership between Denver and Hertz showcases that, and moreover, another bill proposed will aid better environmental factors.

“Hertz is committing to bringing 5,000 electric vehicles to the Denver fleet and BP Pulse’s line electric charge equipment,” he said. “…We see the Inflation Reduction Act also provides $5 billion in funding to replace school buses. That alone could protect children from breathing diesel exhaust and offer a quiet setting, and are providing sustainability, and all of these together demonstrate that EV charging may not a problem right now, but EV charging will become more acute as EVs proliferate.”

He added that public-private partnerships will greatly assist the infrastructure of EVs as estimates place that there will be 125 million EVs in use by 2030.

Michael’s Thoughts

“Hi, I’m Mike Davies. I’m an analyst with Green Econometrics, and I’m here today to talk about EV charging and public-private partnerships. Essentially, private-public partnerships offer several incentives to help build EV charging infrastructure. Cities can facilitate right of ways and easements.

EV charging is capital intensive and partnerships defray costs. EV charging provides business opportunities providing both cash flow to support the capital investment and decent margin for business partners. EV charging offers attractive returns on invested capital and payback. EV charging also offers sustainability of a roadmap to decarbonization and less air pollution for residents.

The bipartisan National Electric Vehicle Infrastructure Plan provides funding for projects. To illustrate this the city of Denver is partnering with Hertz along with equipment provider from BP Pulse, which is owned by BP to install EV charging. Hertz is committing to bringing 5,000 electric vehicles to the Denver fleet and BP Pulse is providing electric charging equipment. Here we see the Inflation Reduction Act also provides 5 billion in funding to replace school buses. That alone could protect children from breathing diesel exhaust and offer a quiet setting as well as provide sustainability. All of these together demonstrate that EV charging may not be a problem right now, but EV charging will become more acute as EVs proliferate.

Current estimates are there will be 125 million EVs in the US by 2030. So private-public partnerships might be the answer to helping build out that infrastructure. Thank you.”

 

Hertz announced it’s pilot program called Hertz Electrifies will add more than 5,000 EVs in the city of Denver. In addition, Hertz, and its partner BP Pulse, will also install public EV chargers at the Denver International Airport and various locations around the city, including underserved communities.

This joint effort between Hertz and the city of Denver helps support Hertz’s overall efforts to increase its rental market footprint in EVs of up to 340,000 by 2027.

Clyde Boyce, Chairman Advisory Board at EV Chargers and Installation, LLC, likes the news.

Clyde’s Thoughts:

“Let’s talk a little bit about Hertz and pilot programs for EVs. The most recent one is a partnership with the city of Denver that puts EVs in Hertz locations at the airport and in underdeveloped areas of the city. I think this is a pretty good idea because it brings goodwill for both Hertz and it also allows them to put chargers in areas that the federal government wants coverage in, those underdevelopment areas.

Now, Hertz has been renting EVs for a while and has learned that they are not renting them nearly as much as they want and I think there are two reasons for this. One may be price.

They’re priced higher than renting a comparable ice vehicle. And number two is the intimidation factor of people who have never driven an EV. And because Hertz doesn’t train them as to the differences once they open the door and see one pedal versus a typical ice car, that in and of itself will frighten them a little bit.

And then they’re also worried a little bit. What do I do about charging? So I think the Denver trial pilot program is the way that Hertz is going to try to go in the future.”

This new program brings much-needed EV infrastructure and training to the Denver area, components necessary to increase the adoption of EV technology. One person thrilled by the news is David Breault, Business Development Manager at Alta EMobility.

David’s Thoughts

“No better time to give some feedback on the Hertz electrical vehicle deployment in Denver than a nice snowy day like this. Very excited to hear about the news of Hertz doing a large deployment of electric vehicles for the rental fleet and other use throughout the city of Denver. One of the few items that were of particular interest to me was the training and support for electric vehicle technicians for these vehicles throughout the community in and around Denver.

And there’s a shortage of folks that know how to work on these. The electric vehicle industry isn’t that old, so having experienced technicians that know how to deploy and support these vehicles. We’ll really help with EV adoption, so look forward to seeing this same type of rollout in other communities throughout the country.”

 

Article by James Kent & Alexandra Simon

 

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