Waymo, Apple Deals Bolster Rental Firms for Ride-Sharing Age
- Avis and Hertz shares each surged 14% after deals disclosed
- Tech giants may need agencies’ expertise for robot-car fleets
Apple Leases Cars From Hertz to Test Self-Driving Tech
This article is for subscribers only.
Old-school rental-car companies may have a road map to prosper in the age of self-driving taxis after all.
Avis Budget Group Inc. agreed to manage a fleet of 600 self-driving Chrysler minivans for Alphabet Inc.’s Waymo autonomous technology division. In addition, Hertz Global Holdings Inc. will lease Lexus sport-utility vehicles to Apple Inc., which will convert them to self-driving cars, said people familiar with the matter.