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Hertz On Demand and IBM lead on smart charging initiative for electric vehicles

LONDON, May 14, 2012 /PRNewswire/ -- The Hertz Corporation (NYSE: HTZ) has announced that Hertz On Demand, the global car sharing club, and IBM are together piloting a program in Germany to advance electric vehicle (EV) mobility and user adoption through intelligent recharging solutions.  In a special agreement, Hertz On Demand in Germany will supply electric vehicles to the car share fleet used by IBM employees to drive between Stuttgart Airport and the company's campus in Ehningen, about 30 km away.

Initially the electric cars provided by Hertz will be charged using decentralized generation of electricity on the IBM campus.  The charging stations will be operated with intelligent IBM software that optimizes the usage of generated power by renewable energies. Furthermore, the software balances demand and availability of electricity power to prevent load peaks.

The companies are using this program as a field test to gauge acceptance and practicability of the electric vehicle and the intelligent recharging infrastructure usage. Upon success of the pilot program, they intend to add further electric vehicles to the Ehningen campus, as well as to extend the project to other IBM sites.

Michel Taride, President, Hertz International, and Executive Vice President, Hertz Corporate said: "Hertz and IBM see their electric mobility collaboration as a means of reinforcing their pioneering roles in this field in their respective areas of business, as well as helping to increase acceptance for this new form of transport."

Discounted rates have been available to IBM staff since October 2011 as part of the special car sharing agreement in place between the IBM campus in Ehningen and Stuttgart Airport. From April, IBM's frequent flyers will have one electric car at their disposal, with numbers increasing as the year goes on. The cars can be booked quickly and simply through the Hertz on Demand website using the IBM account.

Hertz is the first car-rental company to deploy EVs and PHEVs (plug-in hybrid electric) on three continents -- in the U.S. (available to the public in New York, Washington, D.C. and San Francisco), the U.K. (London), and China (Shenzhen).  As the world's largest airport general-use car-rental brand, Hertz is introducing multiple groups of consumers – urban drivers, university students, travelers and corporations – to all-electric and plug-in hybrid vehicles. As a result, the company is forming partnerships with automakers, charging-station providers (e.g., GE), municipalities, non-governmental organizations, corporations and other stakeholders to make EVs easily accessible to consumers.

Hertz plans to increase its global EV presence by deploying vehicles in other countries in the coming months. Hertz Global EV will continue to leverage the company's rental and car sharing locations as bases for vehicles and charging stations, and tap into its technology – including sophisticated fleet management tools and consumer-facing GPS systems, including Hertz NeverLost in the U.S. – to help form an EV grid. 

About Hertz

Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,500 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the number one airport car rental brand in the U.S. and at 119 major airports in Europe. 

Product and service initiatives such as Hertz Gold Choice, Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, Sirius XM Satellite Radio, and unique cars and SUVs offered through the Company's Adrenaline Prestige and Green Traveler Collections, set Hertz apart from the competition.

In 2008, the Company entered the global car sharing market with its service now referred to as Hertz On Demand which rents cars by the hour and/or by the day, at various locations in the U.S., Canada and Europe. 

Hertz also operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of rental equipment, from small tools and supplies to earthmoving equipment, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers, from approximately 315 branches in the United States, Canada, China, France, Spain, Italy and Saudi Arabia, as well as through its international licensees. 

Hertz also owns Donlen Corporation, based in Northbrook, Illinois, which is a leader in providing fleet leasing and management services.

About Hertz On Demand

Hertz On Demand has more than 800 vehicles available to drive from more than 250 locations worldwide, including corporate offices and universities. Hertz On Demand offers vehicles equipped with keyless entry, and benefits covered by the competitive hourly rate including fuel, insurance, 24/7 roadside assistance, and 24-hour in car Member Care Center communication.  For more information, or to register, visit http://www.hertzondemand.com/ or http://www.hertzondemand.co.uk/, or call Member Care Services at 877-654-4400 in the US or 08708 45 45 45 in the UK.

SOURCE Hertz Corporation

(U.S.): Paula Rivera, +1-201-307-2824, privera@hertz.com; (International): Zoe White, +44 1895 553 887, zoewhite@hertz.com


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Disclaimer

ADDITIONAL INFORMATION

This communication relates to the offer (the "Offer") by HDTMS, Inc. ("HDTMS"), a wholly owned subsidiary of Hertz, to exchange each issued and outstanding share of common stock (including the associated preferred stock purchase rights) of Dollar Thrifty for $57.60 in cash and 0.8546 shares of Hertz common stock. The Offer is scheduled to expire at 12:00 midnight, New York City time, on November 1, 2011, unless further extended by HDTMS. Any extension of the expiration date will be made by public announcement no later than 9:00 a.m., New York City time, on the first business day after the previously scheduled expiration date. This communication is for informational purposes only and does not constitute an offer to exchange, or a solicitation of an offer to exchange, shares of Dollar Thrifty common stock, nor is it a substitute for the Tender Offer Statement on Schedule TO or the Prospectus/Offer to Exchange included in the Registration Statement on Form S-4 (Reg. No. 333-174042) (collectively, with the accompanying Letter of Transmittal and related documents and as amended from time to time, the "Exchange Offer Documents") filed by Hertz with the Securities and Exchange Commission (the "SEC"). The SEC declared the Registration Statement related to the Offer effective on June 1, 2011. The Offer is made only through the Exchange Offer Documents.

Security holders and investors may obtain any of the foregoing documents for free by visiting EDGAR on the SEC website at www.sec.gov or by calling Innisfree M&A Incorporated toll-free at (877) 456-3507. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE DOCUMENTS AND OTHER RELEVANT MATERIALS AS THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements. These statements are based on the current expectations and beliefs of Hertz and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that (1) Hertz may be unable to obtain regulatory approvals required for the Offer or may be required to accept conditions that could reduce the anticipated benefits of the Offer as a condition to obtaining regulatory approvals; (2) Dollar Thrifty stockholders may not tender a sufficient number of shares into the Offer or Hertz may otherwise be unable to consummate the Offer; (3) the length of time necessary to consummate the Offer may be longer than anticipated; (4) problems may arise in successfully integrating the businesses of Hertz and Dollar Thrifty and Hertz may not realize the anticipated synergies and other benefits following the Offer; (5) the Offer may involve unexpected costs; (6) the Hertz and Dollar Thrifty businesses may suffer as a result of uncertainty surrounding the Offer; and (7) Hertz and/or Dollar Thrifty may be adversely affected by the other risks described in the SEC reports of Hertz and Dollar Thrifty. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by Hertz. Hertz assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.