Hertz Secures $80 Million Funding for Oro Mobility

A consortium led by Cohen Private Ventures is investing $80 million to support the expansion of the Hertz subsidiary.

Updated on Oct. 20, 2026 in Electric Vehicles

Hertz Secures $80 Million Funding for Oro Mobility

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Hertz Global Holdings announced an $80 million investment from a group led by Cohen Private Ventures into its subsidiary, Oro Mobility. The deal grants the investor consortium significant voting and economic stakes in the company.

Why it matters

Oro Mobility plans to utilize the new capital to scale its fleet, infrastructure, and technology partnerships. The funding supports the company's push toward autonomous robotaxi operations expected later this year.

The investment group secured 50% of the voting rights and 15.86% of the economic rights in Oro Mobility. The company board will consist of six members, split evenly between Hertz and the new investor designees.

The players

Gil West

He serves as the Executive Chairman of Oro Mobility.

Hertz Global Holdings

This vehicle rental company launched its Oro Mobility subsidiary to focus on fleet management and autonomous technology.

Cohen Private Ventures

This firm led the investor consortium that provided $80 million in capital to Oro Mobility.

The details

Oro Mobility, which has already logged over six million miles in managed fleet operations, intends to integrate Lucid vehicles with Nuro technology. Additionally, Hertz plans to shift specific IT and support functions to the subsidiary over the coming year.

April 30, 2026: Hertz launched the subsidiary Oro Mobility.
October 20, 2026: The $80 million investment transaction was announced.
Next 12 months: Hertz will transfer IT and support functions to Oro.
Later in 2026: Oro plans to launch robotaxi operations in the Bay Area.

Roadmap

This investment signals a strategic pivot by Hertz to decouple its autonomous technology operations from its traditional rental business. By integrating Lucid vehicles with Nuro technology, the company is positioning itself to compete against established players in the robotaxi market.

Consumers in the Bay Area may soon see the launch of Oro Mobility robotaxi operations as the company scales its autonomous fleet. Drivers and rental customers should expect Hertz to begin integrating more tech-focused service models as IT functions move to the subsidiary.

The takeaway

The move demonstrates how traditional rental giants are leveraging private equity to pivot toward autonomous logistics. Investors and tech enthusiasts should monitor the upcoming Bay Area launch for signs of operational success in the robotaxi sector.