An Apple logo is seen in the window of an authorised apple reseller store in Galway, Ireland August 30, 2016. REUTERS/Clodagh Kilcoyne
Apple Inc is leasing a small fleet of cars from Hertz Global Holdings Inc to test self-driving technology, an agreement that echoes a larger deal between competitors Alphabet Inc and Avis Budget Group Inc. Hertz shares soared the most in almost two years.
The iPhone maker is leasing Lexus RX450h sport-utility vehicles from Hertz’s Donlen fleet-management unit, according to documents released recently by the California Department of Motor Vehicles. 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.
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