The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving it the company's fifth boss in just four years. The company announced that Stephen Scherr, who came to the company two years ago after nearly 30 years at Goldman Sachs, is stepping down at the end of this month. He'll be replaced by Gil West, former chief operating officer of Delta Air Lines and General Motors' Cruise unit. In the most recent quarter, Hertz took a $245 million hit to its earnings due to a drop in value of the EVs it was selling.
EVs are going through Gartner's Hype Cycle.
I think we are currently entering phase 3.
Gartner hype cycle
en.wikipedia.org
... The Gartner hype cycle is a graphical presentation developed, used and branded by the American research, advisory and information technology firm Gartner to represent the maturity, adoption, and social application of specific technologies. The hype cycle claims to provide a graphical and conceptual presentation of the maturity of emerging technologies through five phases.[1]
Five phases
General hype cycle for technology
Each hype cycle drills down into the five key phases of a technology's life cycle.
1. Technology trigger
A potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist and commercial viability is unproven.
2. Peak of inflated expectations
Early publicity produces a number of success stories"often accompanied by scores of failures. Some companies take action; most do not.
3. Trough of disillusionment
Interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investment continues only if the surviving providers improve their products to the satisfaction of early adopters.
4. Slope of enlightenment
More instances of how the technology can benefit the enterprise start to crystallize and become more widely understood. Second- and third-generation products appear from technology providers. More enterprises fund pilots; conservative companies remain cautious.
5. Plateau of productivity
Mainstream adoption starts to take off. Criteria for assessing provider viability are more clearly defined. The technology's broad market applicability and relevance are clearly paying off. If the technology has more than a niche market then it will continue to grow.[2]
The term "hype cycle" and each of the associated phases are now used more broadly in the marketing of new technologies. ...
[Hype Cycle graph in the article]
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