Hertz to buy up to 65,000 electric vehicles from Polestar in $3-bn deal

The Tesla and Polestar purchases give Hertz a steady stream of some of the most coveted battery-powered cars, even as manufacturers scurry to keep up with swelling order books

Hertz Global Holdings Inc. plans to buy 65,000 electric vehicles from Polestar over the next five years, betting its renters are both EV curious and eager to drive brands beyond Tesla.

The vehicles from Polestar, the all-electric automaker controlled by Volvo Car AB and its owner Zhejiang Geely Holding Group Co., will join some 100,000 Teslas that Hertz has said it’s buying for more than $4 billion. The new deal delivered a boost to shares of Hertz and Gores Gugenheim Inc., the special purpose acquisition company planning to merge with Polestar.

The Tesla and Polestar purchases give Hertz a steady stream of