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Waymo, Apple deals bolster rental-car firms for ride-sharing age

Old-school rental-car agencies may have a road map to prosper in the age of self-driving taxis

Waymo, Apple deals bolster rental-car firms for ride-sharing age
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Reuters
Old-school rental-car agencies may have a road map to prosper in the age of self-driving taxis after all. Avis Budget Group agreed to manage a fleet of 600 self-driving Chrysler minivans for Alphabet’s Waymo autonomous technology division. In addition, Hertz Global Holdings will lease Lexus sport-utility vehicles to Apple, which will convert them to self-driving cars, said people familiar with the matter Monday.

Those deals, while small in scope, comforted investors enough to push up shares of both companies by 14 per cent, a remarkable one-day showing for an industry whose stocks have long been out of favor. The reason for

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