Hertz Global Shares Rise After Oro Mobility, Uber Technologies Sign Two Fleet Maintenance Partnerships
Hertz Global (HTZ) shares were up 11% in Thursday trading after its affiliated operating company Oro Mobility and Uber Technologies (UBER) said they have signed two fleet partnerships related to operational and maintenance services across autonomous and driver-led operations.Financial details related to the collaboration were not disclosed.Under one of the partnerships, Oro Mobility will provide day-to-day vehicle asset management, including charging, maintenance, repairs, cleaning, and depot staffing for Uber's autonomous robotaxi program of Lucid (LCID) vehicles, the companies said.Oro Mobility will also offer strategic fleet services on the Uber platform, using vehicles operated by Oro-employed drivers, the companies said.Additionally, Oro is now active on the Uber platform in Los Angeles and San Francisco, with Northern New Jersey expected to launch this spring, according to the companies.Price: $6.25, Change: $+0.65, Percent Change: +11.61%