Apple working with Hertz to test self-driving technology

Apple (AAPL -0.3%) is leasing some vehicles from Hertz Global (HTZ +13.1%) to use for autonomous testing, according to Bloomberg reporting. When Apple received its license to test three autonomous vehicles from the state's DMV in April, the documents listed Donlen as the lessor and Apple as the lessee.

Under the partnership, Hertz subsidiary Donlen is leasing to Apple (aapl) six Lexus RX RX450h sports utility vehicles to carry out its self-driving auto tests, the report said.

Avis did not move significantly right after the Hertz-Apple news, but had gradually climbed to $27.53 as of 3:30 p.m. ET. Presumably, this partnership is a way for Hertz to test-self-driving vehicle technology rather than letting its customers actually rent self-driving cars at this point in time. The shares pared some of those losses after Alphabet's Waymo unit tapped Avis to manage its fleet of autonomous vehicles in Phoenix.

Apple's auto project has endured its own problems over the past year.

Apple's self-driving vehicle ambitions are coming into focus.

The iPhone maker is concentrating on technology for self-driving cars, Chief Executive Tim Cook said earlier this month in an interview with Bloomberg.


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