Waymo inks self-driving car deal with Avis Budget
Former Google car project Waymo has signed a deal with Avis Budget Group to service and house a fleet of self-driving vehicles being tested in Phoenix, giving the rental car agency a foothold in the budding market for autonomous transportation.
The agreement accelerates Waymo’s effort to commercialize its self-driving car technology, which is beginning a real-world pilot program after years of tests. Google parent Alphabet Inc. owns Waymo.
Avis Budget said Monday that it would provide “fleet support and maintenance services” to the Waymo vehicles in Phoenix. Waymo is providing free rides to Phoenix passengers in Chrysler Pacifica Plug-In Hybrid minivans that it retrofitted with its autonomous vehicle technology.
Thrilled investors drove up Avis Budget’s stock by 14% to $27.67 on Monday.
The accord does not affect Waymo’s other collaborations, including a partnership with ride- hailing app Lyft to test its selfdriving cars.
The Avis Budget deal has fairly limited scope for now. It’s contained to the trial fleet in Phoenix, but it could pave the way for broader collaboration.
Avis Budget said it had agreed to “enhance” some of its facilities and to provide automotive cleaning, maintenance and parking for the Waymo vehicles.
“With members of the public using our growing fleet of selfdriving cars, our vehicles need standard maintenance and clean- ing so they’re ready for our riders at any time of the day or night,” Waymo CEO John Krafcik said in a statement. “Avis Budget Group is an ideal partner to provide fleet support and maintenance.
“With thousands of locations around the world, Avis Budget Group can help us bring our technology to more people, in more places.”
Avis Budget CEO Larry De Shon said the deal “allows us to accelerate our knowledge and hands-on experience in an emerging area.”