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  • 06.26.17

Apple rents a few SUVs from Hertz, Hertz shares jump 14%

Apple is renting a small fleet of vehicles from Hertz, according to DMV documents seen by Bloomberg. Apple will reportedly use the vehicles to test autonomous driving software and sensor systems. 

Hertz investors have been looking for something to feel good about after seeing the company’s stock drop by 75% over the past year. Some implied role for Hertz in the self-driving future seems to have done the trick. 

And Avis stock got its biggest jolt in five years (+21%) earlier on Monday after Alphabet said its Waymo autonomous driving division will pay the rental company to store and manage a few of its autonomous testing vehicles in Phoenix. MS