Hertz and BP will collaborate on a nationwide network of charging stations for EVs rented by Hertz, which expects to electrify a quarter of its fleet by the end of 2024.

The companies on Tuesday announced a memorandum of understanding that expands initiatives both already had begun.

They said BP Pulse would power the new network and would also take over management of Hertz’s existing electric vehicle charging infrastructure. The planned network of fast-charging hubs would be available to taxi and ride-sharing drivers and the general public, as well, they said.

Hertz (NASDAQ:HTZ) already offers tens of thousands of EVs at approximately 500 locations across 38 states. Last week, it announced it would buy up to 175,000 new EVs from General Motors over the next five years. 

With this expansion, Hertz estimated its customers would drive more than 8 billion miles in its EVs through 2027, eliminating 1.8 million metric tons of carbon dioxide equivalent emissions from gasoline-powered vehicles.

BP (NYSE:BP), one of the world’s largest petroleum companies, hopes to become a net-zero company by 2050. It acquired fleet charging and energy management company Amply Power in 2021 and renamed it BP Pulse.

The rebranded company began installing charging infrastructure at 25 Hertz locations earlier this year. Its goal is a worldwide network of more than 100,000 chargers for cars and trucks by 2030, 90% of them with rapid or ultra-fast capacity.

BP Pulse’s management software is designed for optimum fleet charging efficiency, and it is partnering with fleet operators to help reach its 100,000-charger goal.