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Uber Technologies, Inc. (NYSE:UBER) shares are trading relatively flat on Thursday. Uber announced it has partnered with peer-to-peer car-sharing company Turo to upgrade the Uber Rent experience for users in the U.S.
This collaboration allows riders to access Turo's wide-ranging vehicle fleet, featuring over 1,600 makes and models, directly within the Uber app, offering more tailored and flexible rental options nationwide.
The integration supports both companies' efforts to modernize vehicle access and reduce dependence on traditional car ownership.
Andro Vrdoljak, Turo's Vice President of Business and Corporate Development, said the partnership reflects a "shared vision to unlock better car access for everyone."
Niraj Patel, Uber's Global Head of Consumer Vehicles, noted that adding Turo's carsharing options to the Uber app aligns with the company's mission to expand how people move.
He described it as a significant step forward in offering reliable and convenient travel alternatives.
On Wednesday, Uber disclosed a strategic partnership with iFood to enhance convenience for millions of Brazilian consumers.
This collaboration will enable iFood users to book Uber rides directly through the iFood application, while Uber users will gain access to iFood's delivery services for food, groceries, pharmacy items, and convenience goods within the Uber app.
This collaboration intends to make everyday tasks easier for Brazilians by providing access to both transportation and delivery services within two of their most frequently used apps.
JMP Securities analyst Andrew Boone reiterated the Market Perform rating on Uber.
According to Benzinga Pro, UBER stock has gained over 35% in the past year. Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:IYT).
Price Action: UBER shares are trading lower by 0.19% to $90.24 at the last check on Thursday.
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