Avis stock was up as much as 17% Monday morning, after announcing that it partnered with Waymo, the self-driving car division of Google’s parent company Alphabet.
Avis will store and maintain Waymo’s fleet of self-driving cars in Phoenix, where Waymo is testing its autonmous ride-hailing service.
Here’s the key nugget from Avis and Waymo’s announcement:
“Under the multi-year agreement, Avis Budget Group will enhance selected rental facilities to offer automotive services and secure parking for Waymo’s fleet. The services offered by Avis Budget Group, include interior and exterior cleaning, oil changes, tire rotations, and the checking, ordering and installation of automotive parts, as well as other necessary fleet support and maintenance.”
This isn’t the only major partnership Waymo has made recently.
Waymo and Chrysler have built a fleet of autonmous minivans packed with Waymo’s technology. Waymo has also partnered with Uber rival Lyft, but neither company has said exactly how they’ll work together. And Waymo has said its in talks with Honda to work on self-driving cars.