Car rental businesses are emerging even during the COVID-19 crisis hits most enterprises. Not long ago Hertz sold off many cars to cover its debt which could be paid via routine operations. The travel industry consists of mainly from rental businesses, so Hertz got hit severely by the lockdown.
In order to expand again, Hertz needs additional funding from sources that believe in its future ability to repay the loans back. Who can offer loans now? Perhaps, Ideanomics can find the money for the big car rental company which can also include electric vehicles.
Nio’s electric SUV lineup could be one of the cheaper alternatives after Tesla Model Y. Chinese electric autonomous vehicle manufacturers may offer cheaper prices to Hertz via aid from Ideanomics which operates globally to increase the number of zero-emission vehicles.
Due to political and economic instability between the U.S and China Hertz may get Nio SUVs for the European market. Canada and Australia could be the first choice as well.