Hertz (HTZ) is pausing plans to buy tens of thousands of battery-driven cars from Polestar (PSNY) this year following a collapse in resale values last year, The Financial Times’ Peter Campbell reports. Polestar’s CEO Thomas Ingenlath told the publication that he had been contacted by Hertz CEO Stephen Scherr last fall to ask whether he could pause their agreement to buy a certain number of EVs throughout 2024. Polestar agreed to waive Hertz’s requirement to buy its allocated number of cars this year, in return for the rental group agreeing not to sell its current Polestar vehicles early or too cheaply, Ingenlath said.
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