Backed Oro Mobility Secures $80 Million Strategic Equity Investment to Accelerate Independent Growth

Hertz sold 15.86% of Oro Mobility, its robotaxi unit, for $80.89M to investors including Cohen Private Ventures, Certares, and Knighthead. The deal gave investors 50% voting rights but kept majority economic ownership for Hertz. Hertz also repurchased $51.1M of its debt from Certares and Knighthead for $20.86M.

Hertz (HTZ) announced its subsidiary, Oro Mobility, secured an $80M equity investment from a consortium including Cohen Private Ventures. Oro, operating 45,000 vehicles, focuses on fleet management for rideshare, driver-led, and autonomous vehicles. Hertz retains majority ownership and will support Oro's expansion. The investment aims to scale Oro's fleet, technology, and partnerships.

Hertz (HTZ) stock rose 12% to $2.06 after its Oro Mobility subsidiary secured an $80M investment from external backers. Ryder (R) and Avis (CAR) shares also gained, but to a lesser extent. Oro Mobility, majority-owned by Hertz, focuses on fleet management and autonomous vehicles. The investment underscores Hertz's transformation strategy, according to CEO Gil West.

Hertz Global (HTZ) stock rose 13% to $2.08 after Oro Mobility secured an $80M investment from a consortium. Hertz retains majority economic ownership. Oro plans to expand its fleet and operations with the new capital.

Hertz (HTZ) stock surged 13.2% after its subsidiary Oro Mobility received an $80M investment from a consortium. Hertz also repurchased $51.1M in debt at a 60% discount. The funds will support Oro's expansion in rideshare and autonomous vehicle fleet management, with Hertz retaining majority economic ownership.

Oro Mobility, majority-owned by Hertz Global Holdings (HTZ), secured $80M in strategic equity investment from a consortium. The funds will support its operations as an independent fleet platform. According to the company, investors include Cohen Private Ventures and entities linked to Certares and Knighthead Capital.