June 26, 2017 / 7:00 PM / a month ago

Apple working with Hertz to test self-driving technology - BBG

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An Apple logo is seen in a store in Los Angeles, California, U.S., March 24, 2017.Lucy Nicholson

(Reuters) - Apple Inc (AAPL.O) is leasing a small fleet of cars from rental company Hertz Global Holdings Inc (HTZ.N) to test self-driving technology, Bloomberg reported on Monday.

Hertz shares were up 13.5 percent at $10.82 (8.51 pounds), while shares of Apple were slightly down.

Apple is renting Lexus RX450h sport-utility vehicles from Hertz's Donlen fleet-management unit, according to the Bloomberg report, citing documents released recently by the California Department of Motor Vehicles. (bloom.bg/2tdqm8n)

The iPhone maker is concentrating on technology for self-driving cars, Chief Executive Tim Cook said earlier this month in an interview with Bloomberg.

Hertz declined to comment, while Apple did not immediately respond to a request for comment.

Alphabet Inc's (GOOGL.O) self-driving car unit Waymo announced a similar partnership with Avis Budget Group Inc (CAR.O), earlier on Monday, to offer fleet support and maintenance services for its fleet of autonomous vehicles.

Reporting by Rishika Sadam in Bengaluru; Editing by Shounak Dasgupta

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