Apple is leasing a small fleet of cars from rental company Hertz to test self-driving technology, Bloomberg reported on Monday.
Hertz shares were up 13.5 percent at $10.82, while shares of Apple were slightly down.
Apple is renting Lexus RX450h sport-utility vehicles from Hertz’s Donlen fleet-management unit, according to the Bloomberg report, citing documents released recently by the California Department of Motor Vehicles.
The iPhone maker is working on technology for self-driving cars as part of an overall project regarding artificial intelligence, Chief Executive Tim Cook said earlier this month in an interview with Bloomberg.
Hertz declined to comment, while Apple did not immediately respond to a request for comment.
Alphabet Inc’s self-driving car unit Waymo announced a similar partnership with Avis Budget Group earlier on Monday, to offer fleet support and maintenance services for its fleet of autonomous vehicles.
Reporting by Rishika Sadam