Hertz Global Reaches U.S. Supply Agreement With Lyft And Uber For Rental Cars

(RTTNews) - Hertz Global Holdings, Inc. (HTZ) has reached an agreement with Lyft to supply its U.S. drivers with cars under specified rental agreements, expanding upon two pilot markets where Hertz and Lyft have partnered together since November 2015. Built on the model used in pilots in Las Vegas and Denver, the agreement provides set rental rates for drivers, who will be serviced from dedicated off-airport Hertz locations that give on-site support. The cars can be used for both Lyft business and personal driving.

In addition to Las Vegas and Denver, Hertz will begin renting cars to Lyft drivers in Los Angeles and San Francisco with more markets expected to follow as part of the national agreement.

In a separate press release, Hertz Global said it reached an agreement with Uber Technologies, Inc. to supply its U.S. partner drivers with cars under specified rental agreements. The agreement provides set rates for partners, who can rent from specified off-airport Hertz locations that give on-site support. The cars can be used for personal driving as well as for Uber business.

Initially, Hertz is supplying partners in the Los Angeles area with other markets expected to follow as part of the national agreement.