View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 16, 2022

Hertz invests in Ufodrive

Ufodrive raised US$19m in Series A funding, co-led by Hertz and Certares.

Hertz says it is investing in Ufodrive – a self-service electric vehicle rental company and eMobility service provider in Europe.

Ufodrive is the first all-digital, all-electric car rental service controlled from an app, maintains Hertz.

Ufodrive raised US$19m in Series A funding, co-led by Hertz and Certares, in partnership with Knighthead Capital, along with participation from existing shareholders.

Its technology delivers a two-minute ‘arrive and drive,’ entirely digital EV customer experience.

The partnership builds on Hertz’s announcement in October, 2021, the company is investing in EVs, with a commitment to offer the largest electric vehicle rental fleet in North America and to grow its EV fleet globally.

Also in October, the company announced an exclusive partnership with Uber to make Tesla electric vehicles available for drivers to rent when using the Uber network.

Ufodrive’s Series A financing round was co-led by Hertz and Certares, in partnership with Knighthead Capital Management and included participation from existing investors. Hertz SVP of Strategy, Jayesh Patel and Venture Lead at Certares, Chantal Noble Haldorsen, will join the Ufodrive board.

“Our partnership with Ufodrive is another major step in Hertz becoming an essential component of the modern mobility ecosystem,” said Hertz interim CEO, Mark Fields.

“Together, we will pilot ways to make renting an EV even easier using Ufodrive’s digital platforms for both the rental experience and fleet management. For customers, this partnership will help us create the future rental car experience that is all-digital and EV-centric.”

Following successful live testing in 2021, Hertz aims to deploy Ufodrive’s digital rental and fleet management technology to enhance its global EV fleet operations.

Starting with Hertz’s partners in the US and Europe, this will offer a fully digital rental experience, charge point wayfinding, touchless smartphone access and online customer support with live telematics using Ufodrive’s SaaS platform.

Ufodrive will use the additional capital to accelerate product development and expand globally, with a focus on the US market. 

https://newsroom.hertz.com/news-releases/news-release-details/hertz-expands-global-electric-vehicle-commitment-new-ufodrive

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto