With weakening sales of its flagship smartphone, self-driving car technology could potentially lift the company’s future.
Apple is said to have leased a small fleet of cars from Hertz Global Holdings Inc, a rental company, to test advances in its self-driving technology.
With the news hitting the market, the shares of Hertz were up by 13.5% at $10.82, while Apple’s shares moved horizontally.
A report from Bloomberg, citing documents recently released by the California Department of Motor Vehicles states that Apple has rented Lexus RX450h SUVs from Hertz’s Donlen fleet-management unit.
Earlier this month, Apple’s Chief Executive, Tim Cook said in an interview to Bloomberg that the company is focusing on creating technology for self-driving cars.
While Apple did not immediately respond to a request for comment, Hertz declined to comment.
We had earlier reported that Alphabet Inc’s self-driving car unit, Waymo has also entered into a similar partnership with Avis Budget Group Inc, for support and maintenance of its fleet of autonomous vehicles.