After Hertz’s disastrous adventure with electric cars, CEO Stephen Scherr is stepping down. Bloomberg reported. He will be replaced by the former COO of GM’s robotaxi Cruise division, Gil West, who will also join the board of directors.

A year after emerging from bankruptcy in 2020, Hertz said it would transform its car rental business by buying 100,000 Tesla EVs. β€œThe new Hertz will lead the way as a mobility company, starting with the largest EV rental fleet in North America,” the company said at the time. The announcement caused Tesla’s value to rise to a $1 trillion valuation.

Scherr joined Hertz after that decision was made, but increased Hertz’s bet on EVs by also placing orders with Polestar and GM. The company didn’t buy many electric vehicles from these automakers, but it ended up owning about 60,000 from the three automakers.

After that, however, things went sideways. Tesla drastically cut the prices of its Model 3 and Model Y EVs, scorching sales values. In addition, Hertz said Tesla’s vehicles were expensive to repair and unpopular with renters.

As a result, the company began offloading 20,000 electric vehicles, about a third of its electrified fleet. That resulted in a $245 million charge for Hertz and its biggest quarterly loss since the pandemic. Other car rental companies have also recently ditched electric cars, while Germany’s Sixt has axed its entire fleet.

West, meanwhile, was one of nine Cruise executives fired following an incident in which a pedestrian was dragged by a Cruise vehicle after being hit by another car. Authorities accused the company of withholding a video that showed the victim underneath his vehicle.

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