Hertz China to offer BYD electric cars for rent in three cities

Hertz (HTZ.NYSE) will begin renting electric cars to customers in three Chinese cities this week, the New York Times reported. Hertz will offer the E6 sedan manufactured by domestic car and batter manufacturer BYD (1211.HKG). Hertz managers plan to have up to 30 units available to rent by the end of the year. At present only two vehicles will be available to rent in Beijing, Shanghai and Shenzhen. BYD’s E6 model is the only commercially available electric car in the Chinese market at present. BYD’s production capacity is limited and the E6 is expensive, retailing for US$47,000 before subtracting national and municipal subsidies worth over US$15,000. Another challenge is charging the cars. General Electric (GE.NYSE) will supply many of the charging stations, but the exact number has yet to be determined.