ESTERO,
Fla. and DENVER,
Oct. 19,
2022 /PRNewswire/ -- Hertz (NASDAQ: HTZ) and Palantir
Technologies Inc. (NYSE: PLTR, "Palantir"), a leading builder of
operating systems for the modern enterprise, today announced a
multi-year partnership to help drive operational excellence at
Hertz and enhance the customer experience using real-time,
data-driven insights. This investment is part of Hertz's ongoing
commitment to modernize its technology platforms to lead in
electrification, shared mobility and a digital-first customer
experience.
"Technology is an important lever to stay ahead of ever evolving
consumer expectations and a key enabler for our strategy to deliver
world-class service," said Tim
Langley-Hawthorne, chief information officer at Hertz. "Our
partnership with Palantir enables us to harness our data in
innovative new ways that will get our customers on the road more
quickly, improve our cost structure and reduce the complexities of
operating a large fleet and as we continue investing in
electrification."
Hertz is using the Palantir Foundry operating system to create a
platform that will help the company more efficiently manage and
operate its fleet of nearly 500,000 vehicles, which includes tens
of thousands of EVs. The platform will provide vehicle availability
insights based on rental status, service orders, location, and
registration data to create a single source of truth that
algorithmically makes the best use of assets to decrease
out-of-service vehicles – all of which will significantly reduce
operating costs and help customers get on the road faster. In the
early stages of implementation, Hertz has already seen a reduction
in time from vehicle purchase to rent, and a decline in out of
service rates through predictive fleet operations.
"We are beyond excited to work alongside Hertz to make the most
of their sizable fleet and once again show the impact of combining
data and operations to influence key business objectives," said
Shyam Sankar, chief operating
officer at Palantir. "Hertz has shown their continued commitment to
being an innovator in the market, including their industry-leading
focus on electric mobility and we're proud to help them along their
path to digital transformation."
About Hertz
The Hertz Corporation, a subsidiary of Hertz Global Holdings,
Inc., operates the Hertz, Dollar and Thrifty vehicle rental
brands throughout North America, Europe,
the Caribbean, Latin American, Africa, the Middle
East, Asia, Australia and New Zealand. The Hertz
Corporation is one of the largest worldwide vehicle rental
companies, and the Hertz brand is one of the most recognized
globally. Additionally, The Hertz Corporation operates
the Firefly Car Rental, Ace Rental Cars and Hertz 24/7 in
select markets as well as the Flexicar car sharing business
in Australia and New Zealand.
For more information about The Hertz Corporation,
visit www.hertz.com.
About Palantir Technologies Inc. Foundational
software of tomorrow. Delivered today. Additional information is
available at https://www.palantir.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws. Words such as "will,"
"strategy," "ongoing," "lead," "continue," "path," and similar
expressions identify forward-looking statements, which include but
are not limited to statements related to the implementation of data
and technology initiatives, execution of strategies and results
therefrom, installation of charging infrastructure, expansion of
Hertz's EV fleet, and any other statements regarding future
expectations, beliefs, plans, objectives, future events or
performance. We caution you that these statements are not
guarantees of future performance and are subject to numerous
evolving risks and uncertainties that we may not be able to
accurately predict or assess, including Hertz's access to an
adequate level of supply of EVs and EV parts to meet existing
commitments and goals, building or maintaining sufficient
infrastructure to support and charge EV vehicles, and Hertz's
ability to adequately respond to changes in technology, customer
demands and market competition, as well as other factors identified
in the risk factors of Hertz's Annual Report on Form 10-K for the
year ended December 31, 2021, as
filed with the Securities and Exchange Commission (the "SEC") on
February 23, 2022 and any updates
thereto in subsequent filings with the SEC including in Hertz's
Quarterly Reports on Form 10-Q. We caution you not to place undue
reliance on our forward-looking statements, which speak only as of
their date, and Hertz undertakes no obligation to update this
information.
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SOURCE Hertz Global Holdings, Inc.
