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Avis Budget Group Partners with Waymo to Launch Autonomous Ride-Hailing Service in Dallas

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PARSIPPANY, N.J., July 29, 2025 (GLOBE NEWSWIRE) — Avis Budget Group, Inc.

(NASDAQ: CAR)

, a leading global provider of mobility solutions, today announced a multi-year strategic partnership with Waymo, the leader in self-driving technology, to launch and scale a fully autonomous ride-hailing service in Dallas.

Through this agreement, Avis Budget Group will serve as Waymo’s fleet operations partner in Dallas, delivering end-to-end services including infrastructure, vehicle readiness, maintenance, and depot operations. Waymo will offer its ride-hailing service directly to the public via the Waymo app, while maintaining responsibility for validation and performance of the Waymo Driver. Initial testing is already underway in Dallas with the public launch slated for 2026.

For over 75 years, Avis has been a leader in the rental car industry. This new strategic partnership reflects an ambition to grow beyond travel and actively shape the future of mobility. It demonstrates Avis’s ability to monetize its core strengths in large scale fleet management within a high-growth category at the forefront of technology. Avis is establishing its place as a strong partner to support and scale the operational backbone of autonomous vehicle networks.

Brian Choi, Chief Executive Officer of Avis Budget Group, Inc. said, “Our partnership with Waymo marks a pivotal milestone in our evolution, from a rental car company to a leading provider of fleet management, infrastructure and operations to the broader mobility ecosystem. Together, we’re committed to making scaled autonomous mobility a reality for the people of Dallas, with plans to expand to additional cities in the near future.”

Tekedra Mawakana, co-CEO, Waymo, said, “We look forward to bringing our fully autonomous ride-hailing service to the people of Dallas next year, offering a new era of safe and seamless transportation. Working together with our fleet partner Avis, Waymo will offer more riders a stress-free way to get around.”

Waymo and Avis are proud to usher in a new era of urban transportation to the people of Dallas. We look forward to this initial phase of our partnership and intend on scaling autonomous mobility to more cities together over time.


ABOUT AVIS BUDGET GROUP

We are a leading global provider of mobility solutions, both through our Avis and Budget brands, which have approximately 10,250 rental locations in approximately 180 countries around the world, and through our Zipcar brand, which is the world’s leading car sharing network. We operate most of our car rental locations in North America, Europe and Australasia directly, and operate primarily through licensees in other parts of the world. We are headquartered in Parsippany, N.J. More information is available at avisbudgetgroup.com.


FORWARD-LOOKING STATEMENTS


Certain statements in this press release constitute “forward-looking statements.” Any statements that refer to outlook, expectations or other characterizations of future events, circumstances, or results, including the partnership with Waymo discussed in this press release, are forward-looking statements. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to, risks related to the partnership with Waymo discussed in this press release, regulatory requirements and the other factors described in the “Risk Factors” and “Forward-Looking Statements” sections of Avis Budget Group’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the three months ended March 31, 2025. Accordingly, actual results, levels of activity, performance, achievements, and events could differ materially from those stated, anticipated or implied by such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances.



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Ride & Mobility

Ride-Hailing Market Size & Forecast 2025-2032: Emerging

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Ride-Hailing Market

The global Ride Hailing market is estimated to be valued at USD 181.72 Bn in 2025, and is expected to reach USD 441.20 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 13.5% from 2025 to 2032.

Latest Report, titled “Ride-Hailing Market” Trends, Share, Size, Growth, Opportunity and Forecast 2024-2031, by Coherent Market Insights offers a comprehensive analysis of the industry, which comprises insights on the market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The report features a comprehensive table of contents, figures, tables, and charts, as well as insightful analysis. The Ride-Hailing market has been expanding significantly in recent years, driven by various key factors like increased demand for its products, expanding customer base, and technological advancements. This report provides a comprehensive analysis of the Ride-Hailing market, including market size, trends, drivers and constraints, competitive aspects, and prospects for future growth.

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The report sheds light on the competitive landscape, segmentation, geographical expansion, revenue, production, and consumption growth of the Ride-Hailing market. The Ride-Hailing Market Size, Growth Analysis, Industry Trend, and Forecast provides details of the factors influencing the business scope. This report provides future products, joint ventures, marketing strategy, developments, mergers and acquisitions, marketing, promotions, revenue, import, export, CAGR values, the industry as a whole, and the particular competitors faced are also studied in the large-scale market.

Overview and Scope of the Report:

This report is centred around the Ride-Hailing in the worldwide market, with a specific focus on North America, Europe, Asia-Pacific, South America, Middle East, and Africa. The report classifies the market by manufacturers, regions, type, and application. It presents a comprehensive view of the current market situation, encompassing historical and projected market size in terms of value and volume. Additionally, the report covers technological advancements and considers macroeconomic and governing factors influencing the market.

Key Players Covered In This Report:

Uber, Didi Chuxing, Grab, Bolt, Lyft, Ola Cabs, Taxi, Careem, Gojek, 99, Bitaksi, Cabify, FreeNow, Ola Electric, InDriver, DiDi Mobility, Ruta 66, Beat, ViaVan, Swvl

This Report includes a company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The data points provided are only related to the company’s focus related to Ride-Hailing markets. Leading global Ride-Hailing market players and manufacturers are studied to give a brief idea about competitions.

Key Opportunities:

The report examines the key opportunities in the Ride-Hailing Market and identifies the factors that are driving and will continue to drive the industry’s growth. It takes into account past growth patterns, growth drivers, as well as current and future trends.

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Highlights of Our Report:

⏩Extensive Market Analysis: A deep dive into the manufacturing capabilities, production volumes, and technological innovations within the Ride-Hailing Market.

⏩ Corporate Insights: An in-depth review of company profiles, spotlighting major players and their strategic manoeuvres in the market’s competitive arena.

⏩Consumption Trends: A detailed analysis of consumption patterns, offering insight into current demand dynamics and consumer preferences.

⏩Segmentation Details: An exhaustive breakdown of end-user segments, depicting the market’s spread across various applications and industries.

⏩ Pricing Evaluation: A study of pricing structures and the elements influencing market pricing strategies.

⏩ Future Outlook: Predictive insights into market trends, growth prospects, and potential challenges ahead.

Why Should You Obtain This Report?

➥ Statistical Advantage: Gain access to vital historical data and projections for the Ride-Hailing Market, arming you with key statistics.

➥ Competitive Landscape Mapping: Discover and analyze the roles of market players, providing a panoramic view of the competitive scene.

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➥ Identification of Market Opportunities: Astutely recognize market potential, aiding stakeholders in making informed strategic decisions.

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Questions Answered by the Report:

(1) Which are the dominant players of the Ride-Hailing Market?

(2) What will be the size of the Ride-Hailing Market in the coming years?

(3) Which segment will lead the Ride-Hailing Market?

(4) How will the market development trends change in the next five years?

(5) What is the nature of the competitive landscape of the Ride-Hailing Market?

(6) What are the go-to strategies adopted in the Ride-Hailing Market?

Author of this marketing PR:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

Coherent Market Insights Pvt Ltd,

533 Airport Boulevard,

Suite 400, Burlingame,

CA 94010, United States

About Us:

Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviours, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.

This release was published on openPR.



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Turkey’s mobility super app Marti allocating 20% of cash reserves to crypto, starting with Bitcoin

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Key Takeaways

  • Marti Technologies is allocating 20% of its cash reserves to digital assets, starting with Bitcoin.
  • The allocation focuses on surplus cash, with the company’s core business operations and growth plans unchanged.

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Marti Technologies, an Istanbul-based ride app, is allocating 20% of its cash reserves to digital assets, starting with Bitcoin, said Oğuz Alper Öktem, the company’s founder and CEO, in a statement on X.

“We aim to ensure that the cash we do not use in our company operations maintains its value under different market conditions,” said Öktem, noting that Marti views Bitcoin and other crypto assets as a “long-term store of value.”

Öktem reassured stakeholders that the move wouldn’t affect Marti’s primary business. Its operational growth plans in mobility and transportation remain intact, and the crypto allocation only applies to surplus cash not needed for day-to-day expenses.

Marti Technologies provides tech-enabled urban transportation services through its mobility app, operating ride-hailing services that connect riders with car, motorcycle, and taxi drivers. The company also manages a fleet of electric vehicles, including e-mopeds, e-bikes, and e-scooters across major Turkish cities.

Marti went public on the NYSE American exchange under the ticker symbol MRT in July 2023, becoming the first major Turkish micro-mobility company to list in the US.

Marti shares jumped 7% in after-hours trading following news of the crypto adoption strategy, Yahoo Finance data shows.

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BluSmart follows Gensol group firms into insolvency after ₹1.28 cr default

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The wheels have come off the fraud-hit BluSmart Mobility, once hailed as a pioneer in India’s electric ride-hailing startup, as the company has been formally admitted into insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad.

The move follows payment defaults totalling over 1.28 crore and adds BluSmart to a growing list of Gensol-linked entities now undergoing bankruptcy proceedings, including its parent Gensol Engineering Ltd and sister concern Gensol EV Leasing Pvt Ltd.

In an order dated 28 July, a two-member bench comprising Justice Shammi Khan (Judicial Member) and Sanjeev Sharma (Technical Member) admitted BluSmart into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016.

Also Read | NCLAT declines relief to Gensol entities on asset freeze, asks BluSmart and Matrix to approach NCLT

“In light of the above findings, this Tribunal is satisfied that the Financial Creditor is entitled to the relief as sought. The Corporate Debtor’s default justifies the admission of the petition and the initiation of CIRP under the Code,” the tribunal said in its order, reviewed by Mint.

The dispute with the financial creditor began after BluSmart Mobility raised 15 crore through 15 non-convertible debentures (NCDs) on 20 April 2023, with Catalyst Trusteeship as the debenture trustee.

Under the agreement, BluSmart was to start repaying the principal by 30 April 2023, but unilaterally deferred it to 31 May, which Catalyst viewed as a breach. In early 2025, BluSmart defaulted on payments due in February, March, and April—totalling 1.28 crore, prompting Catalyst Trusteeship to seek insolvency proceedings against the company.

Supporting documents included default notices, bank records, and an email from co-founder Anmol Singh Jaggi admitting liability that led to the admission of insolvency plea.

Also Read | Resolution plans must disclose dubious pre-bankruptcy transactions, says IBBI

BluSmart opposed the insolvency plea, arguing that the defaults were temporary, the petition was premature and motivated and that procedural issues such as missing IRP details and vague timelines weakened the creditor’s case.

The company also pointed to the 15 April Securities and Exchange Board of India (Sebi) order against Gensol Engineering and its promoters as background pressure behind the filing.

However, the tribunal rejected all objections, holding that the defaults were material and proven, the promoter had admitted liability, and procedural gaps had been corrected.

It also stated that the Sebi order had no bearing on BluSmart’s contractual obligations to repay its lenders.

The tribunal appointed NPV Insolvency Professionals Pvt Ltd as the Interim Resolution Professional (IRP), which will now take control of BluSmart’s management, issue public notices and invite claims from creditors.

A moratorium has also been imposed, halting all ongoing or new legal actions, asset transfers and recovery proceedings against the company.

Under IBC timelines, the IRP must invite claims within three days and constitute a Committee of Creditors (CoC) within 30 days.

The entire resolution process must be completed in 180 days, extendable by another 90 days. If no viable resolution plan is approved within that time, BluSmart may face liquidation.

With BluSmart joining Gensol Engineering and Gensol EV Leasing in insolvency, legal experts believe the case may become a landmark test for group insolvency in India—a concept not yet formally codified in law.

Also Read | Borosil Renewables German arm files for insolvency

Courts have, however, allowed consolidated proceedings in rare cases like Videocon, where 13 related companies were treated as a single economic entity.

“This could set the stage for group insolvency. If operational and financial links between these firms are clearly established, it may prompt courts to adopt a similar approach,” said Raheel Patel, partner at Gandhi Law Associates.

“The real challenge ahead is determining whether their assets and debts should be resolved jointly or separately, and whether overlapping creditors and related-party transactions will be prioritized for scrutiny,” Sonam Chandwani, managing partner at KS Legal & Associates, said.

When BluSmart defaulted and suspended operations, those same vehicles used as collateral for Gensol loans became value at risk. Power Finance Corporation Ltd and the Indian Renewable Energy Development Agency Ltd (Ireda) were thus exposed to defaults arising from both entities, effectively making them overlapping creditors, she added.

Parth Contractor, founder, Chambers of Parth Contractor, said, “When one entity has a financial crunch, its ripple effects are noticed in sister concerns or associated entities. But the decision to admit a company into insolvency, does not depend on the position of the sister concerns or the group company, but solely on the transaction/issue between the specific debtor and the specific creditor, which in this case was BluSmart and Catalyst Trusteeship”.

BluSmart’s insolvency is the latest and perhaps the most visible blow to the Gensol Group, which has been under intense regulatory scrutiny.

In June, Ireda revealed that Gensol Engineering had defaulted on loans worth 510 crore.

On 15 April, the Sebi issued an interim order accusing Anmol and Puneet Jaggi of diverting investor funds meant for electric vehicle purchases towards personal luxuries, including a $5 million apartment and high-end golf equipment.

Sebi also found that Gensol had procured only 4,704 electric vehicles despite claiming funding for 6,400.

Both promoters resigned from Gensol’s board on 6 May. The Securities Appellate Tribunal (SAT), on 7 May, declined to stay Sebi’s order and asked the company to respond, with the market regulator expected to issue a final decision thereafter.

Meanwhile, Gensol Engineering, now also under CIRP, has issued advertisements seeking to lease out pre-owned EVs at fixed rentals, in what appears to be an effort to monetize stranded assets amid the group’s widening financial crisis.



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