<ul><li>Hertz shares plunged as much as 12% after reporting a deeper-than-expected quarterly loss.</li><li>The rental car company is struggling with the depreciation and high repair costs of its electric vehicle fleet, primarily consisting of Tesla vehicles.</li><li>Hertz initially planned to make 25% of its fleet electric by 2024 but has decided to downsize its EV fleet by 30,000 vehicles.</li><li>The company experienced quarterly losses throughout 2021 and its stock is down nearly 69% year-to-date.</li></ul>

Hertz's failed Tesla bet keeps getting worse as weak earnings challenge its stock

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