Hertz Global Holdings, Inc. (NASDAQ:HTZ) shares are trading higher Thursday after the company announced the launch of its affiliate Oro Mobility and said the company entered into a strategic fleet partnership with Uber Technologies, Inc (NYSE:UBER).
- Hertz shares are powering higher. Why is HTZ stock up today?
Two Strategic Partnerships With Uber
The company said Oro Mobility, an affiliated operating company, has entered into two strategic fleet partnerships with Uber aimed at supporting both autonomous robotaxi and driver-led fleet operations.
Under the agreement, Oro will provide fleet management services for Uber's autonomous robotaxi program, including vehicle charging, maintenance, repairs, cleaning and depot staffing. The service is expected to launch in the San Francisco Bay Area later this year, with potential expansion in 2027.
In addition, Oro will support driver-led operations by offering fleet services on the Uber platform using vehicles operated by Oro-employed drivers. The company said this model is designed to help meet growing rider demand while delivering a consistent customer experience. The service is already active in Los Angeles and San Francisco, with Northern New Jersey expected to launch this spring.
Hertz said the launch of Oro Mobility is part of its strategy to expand into new mobility segments beyond its core rental business, leveraging its fleet management and logistics capabilities to support both autonomous and driver-led transportation models.
The announcement builds on the companies' existing rideshare rental partnership and represents an expansion of their collaboration across multiple mobility services.
Hertz Shares Rise
HTZ Price Action: At the time of publication, Hertz shares are trading 17.14% higher at $6.55, according to data from Benzinga Pro.
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