December 9, 1998
EV RENTAL CARS ANNOUNCES FIRST-EVER
ELECTRIC VEHICLE RENTAL FLEET AT BUDGET RENT A CAR
- New Environmental Partnership Will Help Consumers
Experience the EVolution Toward Alternative-Fuel Vehicles
LOS ANGELES, Calif., December 9th, 1998 - Today Budget Rent a Car Corporation, the world's third largest car and truck rental company, and EV Rental Cars, a new company that specializes in the rental of electric and other environmental vehicles, announced the launch of the first electric vehicle rental fleet in the nation. Consumers are invited to participate first-hand in the evolution toward alternative-fuel vehicles.
Based at Budget's Los Angeles International Airport (LAX) location, the fleet will include electric vehicles manufactured by DaimlerChrysler, Ford, GM, Honda, Toyota and others. The vehicles will be offered at a special introductory rate of $39.95 per day, making them as easy on the wallet as they are on the environment. The Los Angeles Department of Water and Power (LADWP), a partner on the project and installer of the EV charging equipment at Budget LAX, will also add an electric bus to Budget's shuttle bus fleet at LAX.
As a major entry point for travelers from around the world and one of Budget's largest markets, Los Angeles is a natural for the roll-out of this fleet, which is targeted toward Budget's large base of government renters, one-day renters, environmentally-conscious travelers and consumers looking to try before they buy". In addition, more than 300 charging stations already in service throughout Southern California make recharging an electric vehicle easy and convenient. Beginning with nearly 15 electric vehicles in December, EV Rental Cars at Budget expects to increase its fleet to about 60 vehicles by spring 1999. Eventually, the company plans to expand its EV fleet to other Budget locations in California.
Until today, EVs have been available only for long-term lease. But this new venture will allow consumers to rent these cars of the future on a daily basis. EVs are leased from the various car-makers by EV Rental Cars, who in turn rents them to the public through Budget, using Budget's locations, operations, marketing support and lot space. With this partnership, Budget and EV Rental Cars hope to move electric cars into the mainstream of the vehicle rental business by building on the strengths of their respective companies.
This alliance is very much in keeping with Budget's reputation as an environmentally-conscious and forward-thinking company," said Budget Group Inc. Chairman and CEO Sandy Miller. Budget has long been known as an innovator, from special fleet offerings to customer loyalty programs. And with more than 30% of our fleet comprised of specialty and luxury cars, our customers have come to expect adventurous and extraordinary vehicles at Budget.
Although this venture is Budget's first endeavor with electric cars in the U.S., the company is no stranger to promoting the use of environmental vehicles. In Europe, Budget was the first major car rental company to rent LPG (liquid petroleum gas) vehicles throughout the United Kingdom, and since 1996 has been offering electric cars in Paris and Lyon and methane-powered cars in Sweden.
"We're thrilled to be launching our fleet with Budget, a car rental company that shares our concern for the environment," said EV Rental Cars founder and president, Jeff Pink. Electric and other alternative-fuel vehicles run significantly cleaner than the cleanest running gasoline-fueled cars on the road, providing the planet with its greatest hope for improving air quality. It is our hope that as consumers become more familiar with EVs through ventures such as this one, they will be more inclined to lease them on a long-term basis."
Budget Rent a Car Corporation, a wholly owned subsidiary of Budget Group, Inc. (NYSE: BD), has more than 3,200 airport and local market locations in over 120 countries and territories, including more than 100 locations throughout California.
