The Rental Giant That Dumped 30,000 EVs Is Now Betting On Self-Driving EVs

Hertz, the rental giant, has established a new division called Oro Mobility to support Uber’s robotaxi fleet. Oro will handle charging, maintenance, and repairs for Lucid robotaxis equipped with Nuro autonomous driving technologies. This move comes after Hertz’s previous attempt to dive into the world of EVs, which resulted in the company losing billions after offloading 30,000 EVs due to high repair costs and sliding resale values. Hertz’s new strategy involves managing and servicing large fleets of autonomous vehicles, starting with Uber’s autonomous robotaxi program in the San Francisco Bay Area, and later expanding to other markets. The company will also operate its own vehicles and drivers in Los Angeles, San Francisco, and Northern New Jersey through the Uber platform. By focusing on fleet management, Hertz aims to capitalize on the growth of self-driving robotaxis without taking on the risks of developing the hardware and software itself.