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Avis jumps right into the autonomous car race

Published 06/26/2017, 10:43 AM
Updated 06/26/2017, 10:43 AM
© Reuters. Avis jumps right into the autonomous car race
  • Avis Budget Group (CAR +10.4%) CEO Larry De Shon says the company will rework some facilities in the Phoenix region to help manage Waymo's fleet of 600 self-driving Chrysler minivans.
  • The service arrangement is expected to begin later this year.
  • On a broader scope, Avis now has a leading partner for the autonomous car evolution.
  • "It's coming our way. So it's important for us to get involved now," said De Shon about the deal.
  • "This just demonstrates that we can extend our business into fleet-management-as-a-service," he adds.
  • The Avis-Waymo pairing could compete with the Lyft-GM partnership in the future as well as Uber (Private:UBER).
  • A closer look at Waymo's self-driving initiative.
  • Previously: Avis spikes on Alphabet (NASDAQ:GOOGL) self-driving car management deal (June 26)
  • Previously: Hertz jumps on report of Avis-Alphabet deal (June 26)
  • Previously: Tesla (NASDAQ:TSLA) slips after Avis-Waymo deal unveiled (June 26)
  • Now read: David Einhorn: GM Is A Tough Fight


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