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Hertz Global Holdings announced a new unit, Oro Mobility on Thursday. It is partnering with Uber Technologies on two different deals for both driverless cars and regular ride services. Hertz stock went up 17.14% to $6.55 during trading.
Oro Mobility will handle the day-to-day operations for Uber’s self-driving taxi program. This includes charging the vehicles, fixing them when needed, keeping them clean, and managing the facilities where they’re stored. The company plans to start this service in the San Francisco Bay Area before the year ends, with possible growth into more cities by 2027.
The second partnership focuses on regular rides with human drivers. Oro will run its own fleet of vehicles on Uber’s platform using drivers who work directly for Oro. Company officials said this setup helps handle increasing customer demand while making sure riders get the same quality of service each time. This program is already running in Los Angeles and San Francisco, and Northern New Jersey will get the service this spring.
Hertz explained that launching Oro Mobility fits into its broader plan to move beyond just renting cars to tourists and business travelers. The company wants to use what it already knows about managing large numbers of vehicles to support both computer-driven and human-driven transportation services.
The deals expand on an existing arrangement between the two companies, where Uber drivers can rent vehicles from Hertz.
Uber is going far beyond ride services
On Wednesday, Uber revealed a new feature in its app in the realm of hotel bookings at its Go-Get event in New York. It is working with Expedia for the hotel booking tool in its app. Users can surf through over 700,000 hotels all over the world to make bookings. The feature seems especially convenient for tourists to have both car ride services alongside hotel bookings in just one app.
If that wasn’t good enough, the company has also included a Travel Mode feature for local spots suggestions and restaurant reservations.
Uber is also incorporating voice commands with an AI assistant for customers to book rides. The system understands where you want to go and what type of ride you need, then shows the best options.
These latest updates suggest that the company is aiming to become the go-to app for all travel needs. It may be getting a cut from hotels, which it doesn’t own, for each booking. The new multipurpose features will help retain customers on the app.
A new Shop for Me service lets customers request items from any store, even ones not listed in the app. Users can ask for specific products from local shops, whether it’s a gift, specialty foods, or household items.
Select cities will soon get Eats for the Way, letting riders who book Uber Black or Uber Black SUV reserve vehicles that show up with coffee or snacks already inside. After confirming the ride reservation, customers can add their drink or food order.
Investors betting on a rebound
The change in direction comes while Uber shares have struggled to gain ground in early 2026. Meanwhile, traders buying and selling options contracts seem to think better days are ahead.
Data from Barchart shows the ratio of put options to call options for contracts ending in mid-September sits at just 0.22. This heavily favors bullish bets, with the top price target at $87 representing a possible 17% jump over the next five months.
Uber’s quarterly earnings report, set for May 6, could move the stock significantly. Analysts expect revenue to hit $13.3 billion, which would mark a gain of more than 15% compared to the same period last year.
Despite falling from its 2026 peak, the stock has held steady around two key technical levels, its 20-day and 50-day moving averages. This suggests investors who believe in the stock haven’t given up yet.
Analysts covering Uber largely share the optimistic view seen in options trading. The overall rating sits at “Strong Buy,” with the average price target near $106. That would represent potential gains of more than 40% from current levels.
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