Car rental company Hertz invests in self-service electric vehicle rental app

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Car rental company Hertz has invested in an Irish electric vehicle rental app, UFODRIVE. The company continues to invest in the transition to electric vehicles. The rental app offers a fully digital, EV-only rental service, allowing customers to simply “arrive and drive” without having to wait in line or at rental staff.

Image credits – Silicon Republic

UFODrive raised $19 million in Series A funding as well as the new partnership with car rental giant Hertz. The funding round was co-led by Hertz and Certares, in partnership with investment adviser Knighthead Capital. Existing donors also participated in the funding round. UFODrive allows customers to use their smartphones to book and drive premium electric vehicles from various pickup locations. Founded in Luxembourg by Irishman Aidan McClean with Renaud Marquet in 2018, the company currently operates in 18 locations worldwide, including Luxembourg, London, Brussels and Dublin.

Hertz has become popular ordering 100,000 Model 3s while seeking to evolve its fleet towards a more sustainable future. He is building on this by investing in UFODRIVE. The electric vehicle rental app service generates significantly lower emissions than the traditional car rental model and is available 24/7. News of the partnership comes shortly after Hertz announced a partnership with Uber, allowing customers to rent Teslas while using the Uber network.

Zero-emission mobility

UFODRIVE CEO Aidan McClean said, “Born from a vision to deliver what we call ‘radically better car hire’, this investment is a major validation of that dream. We are proud to help accelerate the transition to zero-emission mobility, and our investors see the opportunity before us. We pioneered and are now the premier operating system for electric fleets and already serve a growing list of leading mobility companies.

UFODrive plans to use this investment to accelerate product development and expand globally, with a focus on the US market. The company said it has seen steady growth during the pandemic while adding home delivery and subscription options to its list of services.

Hertz has already begun live testing the UFODRIVE app with their vehicles as they seek to streamline their service and improve electric vehicle operations. Tesla CEO Elon Musk has confirmed that Hertz paid top dollar for its 100,000 Model 3s, bringing the deal to more than $4 billion. Deliveries are already underway to Hertz locations across the United States. Not only car manufacturers but car rental services are also advancing towards technology, providing better services. This is only the beginning of such partnerships, other collaborations are expected in the years to come.


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