From EVwire · Simon Alvarez · · 1m
Oro Mobility Lands $80M for Robotaxi Fleets
Hertz-backed Oro Mobility secures $80M to scale robotaxi operations with Uber and Lucid.
In brief
Hertz-backed Oro Mobility secures $80M to scale robotaxi operations with Uber and Lucid. Oro Mobility, backed by Hertz, raised $80 million to manage Uber's Lucid robotaxis and expand autonomous rideshare services. Originally reported by EVwire.
Oro Mobility Raises $80M
Oro Mobility secured $80 million in strategic equity to grow its rideshare and robotaxi operations.
Hertz Turns Oro into Standalone
Hertz retains majority stake while CEO Gil West becomes executive chairman and Doria Holbrook remains CEO.
CEO Doria Holbrook's Vision
Holbrook stated Oro aims to be the backbone of the robotaxi industry through professionally managed fleets.
“The future of mobility will be powered by professionally managed fleets. As new mobility models emerge, whether ride share and driver-led or autonomous, demand is growing for an operator that can own, operate and maintain vehicles safely, reliably and at scale. Oro was built for that role.”
Oro's Current Fleet Operations
Hertz employees drive 1,000 Oro vehicles for Uber, with 45,000 rented to Uber and Lyft drivers.
First Robotaxi Market in San Francisco
San Francisco will be the first city for Oro's Lucid robotaxis, targeting public rides by mid-2027.
Funding Sources for Oro
Backers include Steve Cohen's family office, Certares Opportunities, and Knighthead Capital Management.
Here's the gist
Oro Mobility, backed by Hertz, raised $80 million to manage Uber's Lucid robotaxis and expand autonomous rideshare services.
