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Uber is Testing a New Feature in California Allowing Some Drivers to Set Their Own Fares

Uber is Testing a New Feature in California Allowing Some Drivers to Set Their Own Fares

Uber announced on Tuesday its testing a feature that allows some drivers picking up passengers from airports in Santa Barbara, Palm Springs and Sacramento to charge up to five times the fare set by the company, Uber said.

Eric Walz2020-01-21 10:55 PT

Volvo’s Venture Capital Arm Invests in Silicon Valley VC Firm Autotech Ventures

Volvo’s Venture Capital Arm Invests in Silicon Valley VC Firm Autotech Ventures

Volvo Group Venture Capital AB announced an investment in Autotech Ventures, a Silicon Valley venture capital firm focused on start-ups in the transportation sector working on autonomous driving and other mobility technology.

Eric Walz2019-12-09 11:10 PT

Uber Reports $1.2 Billion Loss in Q3, CEO Says the Company Will Be Profitable by 2021

Uber Reports $1.2 Billion Loss in Q3, CEO Says the Company Will Be Profitable by 2021

Ride-hailing giant Uber Technologies Inc. reported a net loss of over $1 billion in the third quarter. While its not as bad as last quarter’s loss of $5.2 billion​, the company is still a long way from reaching profitability.

FutureCar Staff 2019-11-04 15:45 PT

Hyundai & Aptiv Form $4B Autonomous Driving Joint Venture

Hyundai & Aptiv Form $4B Autonomous Driving Joint Venture

​Hyundai Motor Group and automotive technology company Aptiv announced today that they will form an autonomous driving joint venture. The new joint venture is the latest partnership between an automaker and a tech company, as automakers race to develop self-driving vehicles and other mobility services.

Eric Walz2019-09-23 11:30 PT

Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows

Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows

Uber reported a Q2 loss of $5.2 billion on Thursday as growth of its core business slows. Uber reported that its revenue growth slowed to 14%, and the company’s core ride-hailing business grew revenue 2% to $2.3 billion.

FutureCar Staff 2019-08-08 15:10 PT

Uber Launches Electric Bike Service in London with JUMP

Uber Launches Electric Bike Service in London with JUMP

Uber customers in London will be able to rent an electric bike right from the Uber app. The ride-hailing company is running a pilot program making 350 e-bikes available to rent in the city.

Eric Walz2019-05-24 11:39 PT

Uber Off to a Rocky Start in Stock Market Debut as Stock Slips 7%

Uber Off to a Rocky Start in Stock Market Debut as Stock Slips 7%

Uber Technologies Inc's stock opened Friday down 6.7% in its first day of trading on the New York Stock Exchange. Uber’s listing today was the ninth-largest U.S. IPO of all time.

Eric Walz2019-05-10 12:12 PT

Lyft’s Falling Stock Price Ahead of Uber’s IPO Shows Investor Concerns About the Ride-Hailing Model Becoming Profitable

Lyft’s Falling Stock Price Ahead of Uber’s IPO Shows Investor Concerns About the Ride-Hailing Model Becoming Profitable

Ride-hailing giant Uber will list its shares tomorrow on the New York Stock Exchange in one of the most anticipated IPO’s in recent history. However, on the eve of Uber’s IPO, its chief rival Lyft is sitting on the sidelines as its stock falls to the lowest level since its own IPO in March.

Eric Walz2019-05-08 19:01 PT

Lyft Users Will Soon Be Able to Summon a Self-Driving Waymo Minivan in Arizona

Lyft Users Will Soon Be Able to Summon a Self-Driving Waymo Minivan in Arizona

Waymo CEO John Krafcik announced that Waymo’s self-driving minivans will be offered on the Lyft app. It’s the first time that Waymo is sharing its autonomous vehicle technology with a competing ride-hailing network.

FutureCar Staff 2019-05-07 15:07 PT

Uber Sets its IPO Terms, is Aiming for a Valuation up to $91.5 Billion

Uber Sets its IPO Terms, is Aiming for a Valuation up to $91.5 Billion

Ride-hailing company Uber Technologies Inc is aiming for a valuation of up to $91.5 billion in its initial public offering, potentially becoming one of the largest U.S. IPO’s since Chinese e-commerce giant Alibaba went public in 2014 and raised $25 billion.

FutureCar Staff 2019-04-26 13:36 PT

Why is Uber Importing 8,000 Electric Bikes From China?

Why is Uber Importing 8,000 Electric Bikes From China?

Uber is poised to for a major expansion and will begin offering more e-bike options directly from its app for riders in U.S. cities. Shipping records show that Uber imported about 8,000 e-bikes to the U.S. this month alone.

FutureCar Staff 2018-12-24 11:00 PT

Waymo’s Commerical Driverless Taxi Service Launches in Arizona

Waymo’s Commerical Driverless Taxi Service Launches in Arizona

Waymo made some history today by launching the first ever commercial driverless shuttle service in Arizona.The service is called Waymo One and riders can use the company’s smartphone app to summon a ride in one of Waymo’s driverless Chrysler Pacifica minivans.

Eric Walz2018-12-05 11:56 PT

Waymo to Launch its Driverless Car Service Next Month to Challenge Uber & Lyft

Waymo to Launch its Driverless Car Service Next Month to Challenge Uber & Lyft

Waymo is preparing to launch a commercial ride-hailing service in Arizona next month to rival Uber. For its new service, Waymo has plans to acquire up to 62,000 plug-in hybrid Pacifica minivans and 20,000 fully-electric Jaguar I-Pace SUVs to build out its commercial fleet over the next few years.

Eric Walz2018-11-13 16:55 PT

Ford, Uber & Lyft Sign Agreement to Share Data to Help Reduce Traffic in Cities

Ford, Uber & Lyft Sign Agreement to Share Data to Help Reduce Traffic in Cities

The Ford Motor Company and ride-hailing companies Uber and Lyft announced an unprecedented commitment to SharedStreets, a new data platform designed to make it easier for the private sector to work with cities by agreeing to share data that might help everyone get around cities more easily.

Eric Walz2018-09-26 12:20 PT

Lyft Hits Major Milestone, Completes 1 Billion Trips

Lyft Hits Major Milestone, Completes 1 Billion Trips

While that’s a good marker for Lyft, the ride-hailing company still lags behind Uber, its main rival, which surpassed 10 billion trips earlier this July.

Vineeth Joel Patel2018-09-24 08:00 PT

Uber Plans to Shift Focus to Electric Scooters & E-Bikes for Short City Trips

Uber Plans to Shift Focus to Electric Scooters & E-Bikes for Short City Trips

With Uber vehicles clogging city streets and the company itself being blamed for increasing traffic in some cities, the company is taking action. Uber is planning an emphasis on electric scooter and e-bikes instead of cars in cities, according to Uber CEO Dara Khosrowshahi.

Eric Walz2018-08-27 12:26 PT

Aptiv Reaches Milestone of 5,000 Public Trips in its Self-Driving Cars

Aptiv Reaches Milestone of 5,000 Public Trips in its Self-Driving Cars

Since January, thousands of local residents and tourists in Las Vegas have taken a ride in one of Aptiv’s self-driving BMW’s operating on Lyft’s platform and the company just announced the completion of its 5,000th trip on the Las Vegas strip.

Eric Walz2018-08-22 16:11 PT

New York City Votes to Limit the Number of Uber & Lyft Vehicles

New York City Votes to Limit the Number of Uber & Lyft Vehicles

On Wednesday, New York became the first major American city to limit the number of for-hire drivers. The city council voted to halt new vehicle licenses for ride-hailing services and establish minimum pay rules for drivers. New York will cap the growth of the services for one year, while the city studies the booming ride-hailing industry.

Paul Young2018-08-09 17:32 PT

New York City Looking to Cap the Number of Uber & Lyft Vehicles

New York City Looking to Cap the Number of Uber & Lyft Vehicles

New York City officials are moving to limit the number of vehicles driving for Uber and other ride-hailing services as part of an aggressive move to address the worsening congestion. If the legislation is passed, New York will become the first major U.S. city to set a limits on the number of ride-hailing vehicles allowed to operate.

Eric Walz2018-07-27 12:40 PT

Experts Believe Autonomous Vehicles & Ride-Sharing Services Will End Traditional Car Ownership

Experts Believe Autonomous Vehicles & Ride-Sharing Services Will End Traditional Car Ownership

Energy and transportation disruption expert, Antonio Seba, claims that traditional automobile ownership will fall by the waist side as consumers move toward using ride-sharing services and autonomous cars.

Vineeth Joel Patel2018-07-23 09:00 PT

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