Hertz and Uber Initiate a Significant Partnership for Robotaxi Operations via Oro Mobility
Hertz Global Holdings announced a strategic partnership with Uber Technologies on April 30, launching a new subsidiary called Oro Mobility to manage autonomous robotaxi fleets and driver-led operations. This deal sent Hertz stock soaring over 16% in early trading, marking its best day in nearly six months.
Under the agreement, Oro Mobility will provide comprehensive fleet management for Uber’s autonomous robotaxi program featuring Lucid electric vehicles equipped with Nuro AV technology. Services include:
- Daily charging
- Maintenance
- Repairs
- Cleaning
- Depot staffing
Launches are expected in the San Francisco Bay Area later this year with expansion planned for 2027.
Additionally, Oro will deploy high-quality vehicles operated by Oro-employed drivers on the Uber platform in Los Angeles, San Francisco, and Northern New Jersey. This partnership marks Hertz’s strategic pivot from traditional car rentals to mobility-as-a-service operations, leveraging its century of fleet management expertise. Industry analysts praised the deal as providing Hertz with stable, contract-based revenue streams aligned with the broader shift toward Transportation-as-a-Service.
Source: Uber Press Release