NOW JOINING ME IS MARK FIELDS
WHO IS THE INTERIM CEO OF HURT
AND TOM WAGNER WHO IS
THE CO-FOUNDER MANAGING MEMBER
OF KNIGHTHEAD CAPITAL
MANAGEMENT GENTLEMEN, THANK YOU
BOTH SO MUCH FOR TAKING THE
TIME AND CONGRATULATIONS ON
THIS MILESTONE OCCASION AS WELL
TOM WANT TO START WITH YOU THIS
BANKRUPTCY TURN AROUND A VERY
WELCOME SIGHT, ESPECIALLY FOR
SHAREHOLDERS SO WHAT ABOUT THE
INDUSTRY AND HURTS ITSELF MADE
THIS A VIABLE BUSINESS TO
REVIVE WELL I THINK FIRST YOU
START WITH
THE INCOME.
>> CREDIBLE BRAND 103 YEARS OLD
AT THIS POINT. A LONG HISTORY
OF
BEING FIRST AND INNOVATING IN
THE RENTAL CAR INDUSTRY AND A
GLOBAL NETWORK. CUSTOMERS OF
EMPLOYEES AND PARTNERS AROUND
THE WORLD THAT WILL HELP US
DELIVER TOP QUALITY
SERVICE TO OUR CUSTOMERS I
THINK THAT YOU KNOW WHEN WE
LOOK THAT THE ASSET WE FELT
THAT THERE WERE THINGS THAT
COULD BE DONE RELATIVELY
QUICKLY TO REALLY CHANGE THE
CUSTOMER EXPERIENCE AND AND
DRIVE THE
COMPANY TOO THE ESG FOCUSED AND
PARTICULARLY ON THE
SUSTAINABILITY SO THERE WAS A A
HUGE AMOUNT OF FOCUS INTERNALLY
AND BUILDING A CHARGING NETWORK
AND MOVING
TO ELECTRIFICATION AND REALLY
IMPROVING THE CUSTOMER
EXPERIENCE SO WHEN WE FACTOR IN
ALL OF THOSE THINGS TOGETHER IT
THE 2 YEARS ESTABLE TO PASS UP
IT WAS A
AN OPPORTUNITY THAT WE HAD TO
PURSUE AND REALLY DIVE INTO
WITH EVERYTHING WE HAVE MARK LL
COOL J WOULD SAY DON'T CALL IT
A COMEBACK BUT
YOU HAVE.
>> FORGIVE US IF WE DO CALL
THIS A COMEBACK CONCERTS
MANAGED TO REBOUND FROM
PANDEMIC-RELATED LOCKDOWNS WALL
STREET BETS SAGA TO A CAR
SHORTAGE THAT TALK TO US ABOUT
THIS RETURN TO
PUBLIC MARKETS AND THE
CHALLENGES YOU SEE IMPACTING
THE COMPANY IN THE FUTURE AND
HOW YOU INTEND TO NAVIGATE
THAT. YEAH WELL FIRST OFF YEAH
IT'S IT'S IT'S NOT ONLY COME
BACK OR TURN AROUND, BUT I'D
ALSO POINT TALK ABOUT IT AS
THINK ABOUT AS A TRANSFORMATION
OF THE BUSINESS BECAUSE THIS IS
NOT ONLY ABOUT RUNNING AN
EXCELLENT RENTAL CAR COMPANY
WE'RE GOING TO BE
VERY FOCUS.
>> ON THAT, BUT IT'S ALSO ABOUT
YOU KNOW PLAY IN THAT CENTRAL
ROLE AND THE MODERN MOBILITY
BECAUSE SYSTEM AND
MAKING OURSELVES LITERALLY IN
THIS INDISPENSABLE TO ALL THE
MOBILITY PLAYERS GOING FORWARD
NO MATTER WHERE MOBILITY 2
POINT OH HAPPEN. YOU KNOW AS
YOU KNOW BE GIVEN SOME OF THE
THE MANUFACTURING ISSUES IN
TERMS OF THE AUTOMAKERS BECAUSE
OF SUPPLY
CHAIN ISSUES. THAT'S CREATED A
DEMAND AND SUPPLY IMBALANCE AND
SO THE INDUSTRY IS IS
BENEFITING FROM THAT
RIGHT NOW BUT WE'RE USING THIS
TO TO REALLY INCREASE OUR FIRE
POWER TO MAKE THE INVESTMENTS
THAT WE WANT TO
LEAD AND BE THAT MAJOR
COMPONENT OF THE MOBILITY ECO
SYSTEM INCLUDES AS
TOM MENTIONED MAJOR INVESTMENT
IN ELECTRIFICATION I'M REALLY
HERE ACROSS THE INDUSTRY WE
WANT TO PARTNER WITH ALL OF THE
A M'S AND HELP
THEM WITH THEIR OBJECTIVES AS
WE LOOK TO TRANSITION
PROPULSION SYSTEMS ACROSS THE
PLANET TO ELECTRIFICATION.
>> AS YOU MENTIONED
ELECTRIFICATION I MEAN WE
CERTAINLY DO KNOW THAT THE E V
ROLLOUT PHASE A
MAJOR ROLE AND THE GROWTH OF
HURTS AND THAT STRATEGY GOING
FORWARD HOW MUCH ARE YOU
COMMITTED TO
CONTINUING TO INVEST INTO THAT.
WELL WE'RE WE'RE
VERY COMMITTED.
>> OBVIOUSLY YOU KNOW FROM OUR
FIRST PARTNERSHIP WITH TESLA
WHICH ARE EXTREMELY EXCITED
ABOUT I I I FIRST NOTE THAT
OUR MOVE TO ELECTRIFICATION IS
REALLY A CUSTOMER IN MOVE.
WE'RE LOOKING AT CUSTOMERS THEY
WANT TICKS VARIANCE TV'S SO
LITERALLY NOW WITH OUR
RELATIONSHIP WHAT TESLA WE
BECOME THE FIRST AND BEST
CHOICE FOR THEM TO EXPERIENCE
TV'S AND IS THE SAME READY TO
PARTNER ACROSS THE INDUSTRY
ON THIS. BUT IT'S IMPORTANT
IT'S AN IMPORTANT PLANK OF OUR
STRATEGY GOING FORWARD BECAUSE
WHEN YOU LOOK AT THE BIG TRENDS
THAT ARE SHAPING ABILITY GOING
FORWARD ITS ELECTRIFICATION IT
SHARED MOBILITY, IT'S CONNECTED
CARS AND ITS AUTONOMY AND WE'RE
POSITIONING THE COMPANY TO PLAY
IN ALL
>> MANY OF US HAVE SEEN THE
MARKETING CAMPAIGN FEATURING
TOM LETTING TRAVELERS KNOW OF
THE
TESLA EVIE TO TESLA CEO ELON
MUSK LATER DID THROW COLD WATER
ON THE EVE YOU
PURCHASE ANNOUNCEMENT VIA
TWITTER IT'S LEFT MANY
WONDERING IS THE DEAL FINALLY
SECURE NOW HOW MUCH IT HURTS
PAYING FOR THE TESLA MODEL 3
ORDER AND WHAT'S THE
ANTICIPATED DELIVERY TIMELINE.
>> YOU KNOW AS IT RELATES TO
OUR PARTNERSHIP A M'S YOU KNOW
WE DON'T HAVE EXTRA ALL
DISCUSSIONS AROUND TIMING
AROUND PRICE THAT WE WORK WITH
YUM'S
TO FIND A MIX OF MODELS AND
TRIM THE 5TH FULL THEO AM AND
OUR CUSTOMERS AND THIS
IS A UNDETERRED PROCESS FOR US
WE'RE SEEING INCREDIBLE DEMAND
FOR EVS FROM OUR CUSTOMERS AS
MARC ARTICULATED AND I THINK
THAT WE NOW HAVE A BETTER
FLAVOR FOR WHAT VEHICLES MAKE
THE MOST SENSE FOR THE FLEET
AND SO THAT'S SOMETHING
WE WORK VERY VERY CLOSE WITH
MILLIONS ON AND THINKING ABOUT
HOW WE INTERESTS OF THE FLEET
BECAUSE IMPORTANTLY WE HAVE TO
MAKE SURE WE HAVE THE
INFRASTRUCTURE IN PLACE TOO
TO DELIVER ON THOSE PROMISES TO
ENSURE THAT THE CUSTOMER
EXPERIENCE IS COMPLETELY
PRISTINE AS WONDERFUL
EXPERIENCE FROM YOU KNOW IN
RENTING ANY V AS IT IS TO BUY
ONE OR LEAST ONE
AND SO YOU KNOW WE EXPECT THAT
THIS THIS PARTNERSHIP WILL
CONTINUE TO WALTON WILL WORK
COLLABORATIVELY WITH AS MARK
SAID ALL AM STERN PRODUCE A
WIDER VARIETY OF VEHICLES INTO
OUR FLEET THAT'S SOMETHING THAT
WE AND OUR CUSTOMERS ARE VERY
EXCITED ABOUT.
>> AND DOES IT SEEM THAT THE
DELIVERY TIME ON WOULD STILL BE
ON TRACK FOR THAT
2022. ANTICIPATED ENTRY INTO
KIND OF EVS ADDED ON TO THE
HURT SWEET.
>> YOU KNOW RIGHT NOW THE
DEMAND IS VASTLY IN EXCESS OF
ANY AMOUNT OF SUPPLY THAT WE
CAN BRING
IN SO THE KEY FOR US AS I SAID
IS REALLY MAKING SURE THAT THE
DELIVERY KAYDEN'S WORKS IN THE
CONTEXT OF OUR ECOSYSTEM
AND SO YOU KNOW ALL OF THESE
THINGS ARE INTERRELATED YOU
KNOW WE WANT TO DO THIS AS
QUICKLY AS WE POSSIBLY CAN
WE'RE CERTAINLY MAKING EVERY
EFFORT TO BE ABLE TO DO THAT
BUT WE'VE GOT TO GET IT RIGHT
ON BOTH
SIDES AND AND THAT REALLY
REQUIRES A A VERY VERY CLOSE
COLLABORATION WITH PARTNERS AND
YOU KNOW THE TV STRATEGY, WE
KNOW DIFFERENT AND INTERESTING,
YOU KNOW NEW AND DIFFERENT
MODELS INTO
THE FLEET IN MORE TRADITIONAL
VEHICLE, SO I THINK THIS IS ONE
THAT WILL BE A CONTINUING STORY
WE'RE SUPER EXCITED ABOUT IT
AND YOUR
CUSTOMERS ARE GOING CRAZY TO
GET THEIR HANDS ON THESE THINGS
WHERE PEOPLE ARE DYING TO TRY
THEM AND WHERE REALLY EXCITED
ABOUT THAT AND WE'RE LOOKING
FORWARD TO BE ABLE TO DELIVER
ON THE PROBLEM.
>> IT'S CERTAINLY A MARK I'D BE
INTERESTED IN GETTING YOUR
PERSPECTIVE IS THE FORMER CEO
FORWARD WHEN YOU
LOOK ACROSS THE BROADER
AUTOMOTIVE LANDSCAPE RIGHT NOW
AND YOU SEE SOME OF THE
CHALLENGES IN PRODUCING
AUTOMOBILES
AND THEN ADDITIONALLY YOU SEE
THE DOMINANCE OF THE RENTALS OF
AUTOMOBILES AS
YOU KNOW HOW YOU KIND OF
EVALUATE THIS BROADER LANDSCAPE
AND WHERE HURT AS POTENTIALLY A
COMPETITIVE POSITION EVEN
AGAINST THOSE WHO ARE SELLING
VEHICLES
RIGHT NOW.
>> WELL WE THINK WE'RE IN A IN
A VERY GOOD POSITION FIRST OFF
WHEN YOU LOOK AT THE FIRST UP
AND THE DEMAND FOR VEHICLES
WHETHER ITS NEW VEHICLES ARE
RENTING VEHICLES, ETCETERA IS
VERY VERY HEALTHY. OBVIOUSLY
THAT'S A
COMBINATION OF FOLKS WHO WHO
WANT TO TRAVEL NOW POST COVID
YOU KNOW THEY'RE TIRED OF BEING
COOPED UP THAT'S GOOD
FOR BUSINESS. WHEN YOU LOOK AT
THE BORDERS
BEING OPENED OVERSEAS AS OF
YESTERDAY THAT'S GOING TO BE
GOOD FOR BUSINESS, BUT YOU KNOW
CLEARLY AS WE
GO FORWARD. NO MATTER WHETHER
IT'S RENTING OR AS YOU KNOW WE
ANNOUNCED A
RELATIONSHIP WITH UBER SO THAT
WE CAN OFFER OUR OUR VEHICLES
THROUGH UBER AND AND HITTING
THAT SHARED MOBILITY. GROWTH
GOING FORWARD BOTTOM LINE IS WE
HAVE A LOT OF GROWTH I THINK
AHEAD OF US
AND HURTS AND IT'S OUR
OPPORTUNITY NOW TO EXECUTE ON
THAT AND THROUGH SOME OF THE
PARTNERSHIPS THAT WE HAVE
ANNOUNCED OVER THE
LAST WEEK COMBINED WITH THE
VERY HARD WORK OF ALL OF OUR
EMPLOYEES THESE I'M VERY VERY
OPTIMISTIC ABOUT
THE FUTURE.
>> DO YOU BELIEVE THAT THE
PARTNERSHIP OR THE PURCHASE
ORDER. AMONG THE
TESLA VEHICLES WOULD BE KIND OF
AN EXCLUSIVE AT OF TESLA
VEHICLES ARE THERE OTHER
AUTOMAKERS THAT YOU WOULD BE
LOOKING AT MAKING STRATEGIC
PURCHASES OF ELECTRIC VEHICLES
MORE INTERNATIONALLY TO
SOLIDIFY THAT EVIE FLEET AMONG
YOUR VEHICLES OFFER. ABSOLUTELY
I WOULD YOU KNOW OUR ONE OF
OUR KEY PIECES OF OUR STRATEGY
IS TO LEAD AND THE ADOPTION OF
ELECTRIC VEHICLES AROUND THE
WORLD SO AGAIN AS TOM SAID
WE'RE VERY EXCITED ABOUT OUR
RELATIONSHIP WITH BUT THAT'S
JUST
THE START ALL RIGHT WE WANT TO
WORK WITH ALL OF THE MAJOR
CARMAKERS IN GOING TO THEM AND
SAYING WHAT ARE YOUR OBJECTIVES
AND THEN HOW CAN HURT
HELP HOW CAN WE BRING OUR
EXPERTISE AROUND OPERATING AND
MANAGING
LARGE FLEET, BRING TO BEAR TO
HELP YOU BE SUCCESSFUL AND I
THINK THAT'S GOING TO BEAR
FRUIT OVER TIME IS THEIR TOTAL
PERCENTAGE OF THE FLEET I GUESS
INTERNATIONALLY THAT YOU WOULD
LOOK TO IN THE FUTURE PERHAPS A
TARGET ROAD MAP TO SAY X
PERCENT
OF OUR WE SHOULD BE ELECTRIFIED
BY 2025 BY 2030 SO
WELL PART THAT IT'S IT'S YOU
KNOW WHAT TYPE OF PRODUCTION IS
GOING TO BE AVAILABLE. SO YOU
KNOW THIS IS GOING TO BE A IN A
REAL PROCESS I WOULD SAY THIS
OUR APPROACH ON THIS IS GOING
TO BE TOTALLY A CONSUMER IN AND
DEMAND
DRIVEN EQUATION, NOT WHERE WE
SAY WE WANT TO GROW OUR FLEET
TO AXE BECAUSE THAT WAY WE CAN
MAKE SURE THAT THAT BUSINESS IS
SUCCESSFUL FROM A
FINANCIAL STANDPOINT AND IN
FORT LEE AS TOM MENTIONED
MAKING SURE THAT WE'RE
SATISFIED CUSTOMERS TO THE
DEMAND THAT THEY WANT
MARK FIELDS INTERIM CEO OF HER
SON TOM WAGNER CO-FOUNDER AND