Hertz says it lost another $195M from EV bet

Hertz said Thursday that the rental car giant's failed investment in an electric vehicle fleet continues to be an expensive mistake, reporting it lost another $195 million last quarter in depreciation value from writing off the remaining EVs the company has held for sale.

The company's total losses were $588 million, greater than Wall Street expectations. The news sent shares down more than 24% on Thursday. The stock pared some losses on Friday.

In the previous quarter, Hertz announced...