Steve Cohen’s fund leads $80 million bet on Hertz robotaxi unit Oro Mobility

What happened

20, 2026 Hertz just found outside money for its bet on cars that drive themselves. What the money buys Hertz Global Holdings announced the transaction on October 20, 2026.

The $80 million arrives as a strategic equity investment. Cohen Private Ventures is joined by affiliates of Certares Opportunities LLC and Knighthead Capital Management.

Together, the group received Class A Common Units in Oro. The investment in Oro Mobility highlights the growing strategic importance of autonomous technology, potentially reshaping urban transportation dynamics.

A consortium led by Cohen Private Ventures, the investment vehicle tied to Steve Cohen, is putting $80 million into Oro Mobility, the Hertz subsidiary built to manage rideshare and robotaxi fleets. The terms are lopsided in an interesting way.

The investors get 50% of the voting rights but only approximately 15.86% of the economic rights . Oro will have a six-member board, with three designees from Hertz and three from the investor consortium.

Gil West, the chief executive of Hertz, serves as Executive Chairman of Oro.