HyreCar Inc. announced that AmeriDrive Holdings Inc. has purchased an initial tranche of vehicles and has reached an agreement to purchase 1,500 more vehicles over the next six months from one of the top three rental car companies in the United States. The vehicles will be purchased using a portion of the recently announced $100 million warehousing line of credit. AmeriDrive expects to add 800 to 1,000 cars in current and new markets by the end of 2022.

The companies expect cars from this initial purchase to be available for rent on the HyreCar platform by November 1, 2022, following several process and technology improvements that allow AmeriDrive to rapidly in-fleet new cars. The purchase agreement serves as a channel for vehicle acquisition as AmeriDrive plans to increase its fleet by 6,000 to 7,000 cars over the next 18 months for exclusive listing on the HyreCar platform.