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Uber Shares Surge 37% After its CEO Says the Ride-Hailing Giant Has $10 Billion in Cash to Weather the Coronavirus Crisis

Uber Shares Surge 37% After its CEO Says the Ride-Hailing Giant Has $10 Billion in Cash to Weather the Coronavirus Crisis

Uber CEO Dara Khosrowshahi said the company has enough cash on hand to withstand the economic loss of the recent coronavirus outbreak.

Eric Walz2020-03-19 10:00 PT

Uber’s Self-Driving Cars Return to San Francisco

Uber’s Self-Driving Cars Return to San Francisco

Only two of Uber’s autonomous Volvo XC90 SUVs will be testing publicly and will only be tested during daylight hours.

Vineeth Joel Patel2020-03-15 06:00 PT

Uber is Bringing its Self-Driving Cars to Washington D.C., with Humans Behind the Wheel

Uber is Bringing its Self-Driving Cars to Washington D.C., with Humans Behind the Wheel

​Ride-hailing company Uber is still working on its goal to add self-driving cars to its ride-hailing network. The company announced on Thursday that its bringing its self-driving vehicles to Washington D.C. The nation’s capital will be the sixth major city where Uber is mapping and collecting data for its self-driving vehicles.

FutureCar Staff 2020-01-24 10:55 PT

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

Uber Announces Partnership with Hyundai Motor Group on Urban Air Mobility

Uber Announces Partnership with Hyundai Motor Group on Urban Air Mobility

At CES this week in Las Vegas, Uber and Hyundai Motors Group announced a new partnership on a futuristic multi-passenger VTOL aircraft that in the near future may whisk Uber customers in the sky above congested cities, cutting some two hour commutes down to just 15 minutes. Hyundai will produce the VTOL aircraft, while Uber will provide aerial ride-sharing platform for customers to book them.

FutureCar Staff 2020-01-09 15:15 PT

Former Uber CEO and Co-Founder Travis Kalanick to Resign From its Board, Cutting All Ties to the Company

Former Uber CEO and Co-Founder Travis Kalanick to Resign From its Board, Cutting All Ties to the Company

Travis Kalanick, the man who changed how people get around as the co-founder and CEO of ride-hailing giant Uber, is cutting ties with the company he co-founded in 2009.

Eric Walz2019-12-24 09:00 PT

London Revokes Uber’s License for the Second Time Citing a ‘Pattern of Failure’ Over Rider Safety

London Revokes Uber’s License for the Second Time Citing a ‘Pattern of Failure’ Over Rider Safety

The regulator Transport for London (TfL), citing a “pattern of failure” with rider safety and security, has revoked the ride-hailing giant's license for the second time in under two years.

Eric Walz2019-11-25 10:45 PT

Uber & EVgo Sign MOU to Promote the Use of Electric Vehicles on Uber’s Platform

Uber & EVgo Sign MOU to Promote the Use of Electric Vehicles on Uber’s Platform

Ride-hailing giant Uber Technologies Inc and electric vehicle charging site operator EVgo have announced a new agreement to accelerate the electrification of ride-share vehicles across the U.S. Uber and EVgo will focus on supporting Uber’s driver-partners who currently drive electric vehicles with access to EVgo’s public fast charging network.

Eric Walz2019-09-26 10:30 PT

Uber Spreads its Autonomous Program to Dallas

Uber Spreads its Autonomous Program to Dallas

The Texas city joins Pittsburgh, Toronto, and San Francisco as locations where the ride-hailing company is testing its autonomous cars.

Vineeth Joel Patel2019-09-21 06:00 PT

Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem

Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem

Uber sold a larger-than-expected $1.2 billion of bonds rated in the lowest tier of junk this week. The proceeds of the bonds will be used to help fund its $3.1 billion purchase of Dubai-based ride-hailing company Careem, Uber’s biggest competitor in the Middle East region.

FutureCar Staff 2019-09-13 15:30 PT

U.S. Justice Dept Charges Former Head of Uber ATG with Stealing Trade Secrets From Waymo

U.S. Justice Dept Charges Former Head of Uber ATG with Stealing Trade Secrets From Waymo

​The saga between Uber and Waymo over the theft of trade secrets continues on. On Tuesday, the U.S. Department of Justice filed criminal charges accusing former Google engineer Anthony Levandowski for stealing trade secrets from the company’s self-driving car subsidiary Waymo and taking them to rival Uber Technologies Inc.

Eric Walz2019-08-27 11:50 PT

Uber is Eyeing a Dormant Pittsburgh Area Airport to Build Autonomous Vehicle Test Site

Uber is Eyeing a Dormant Pittsburgh Area Airport to Build Autonomous Vehicle Test Site

According to recent documents filed in Pennsylvania, ride-hailing giant Uber is seeking approval to build a private autonomous vehicle test site at the dormant Campbell Airport in South Fayette Township, about 15 miles southwest of Pittsburgh.

Eric Walz2019-08-23 11:40 PT

 Uber to Offer Helicopter Rides Between New York City & JFK Airport

Uber to Offer Helicopter Rides Between New York City & JFK Airport

Ride-hailing company Uber announced it will offer helicopter rides from Manhattan to nearby John F. Kennedy International Airport beginning this summer. The service is called “Uber Copter” and begins on July 9 in New York City.

Eric Walz2019-06-06 12:23 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

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

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

Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit

Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit

Ride-hailing company Uber is preparing to sign a deal to sell a minority stake in its autonomous vehicle unit Uber ATG ahead of next month’s IPO. The deal would allow Uber to retain operational control of ATG while reducing its cash burden.

Eric Walz2019-04-17 17:14 PT

Uber Introduces a Voucher Program that Allows Businesses to Buy Rides for Their Customers

Uber Introduces a Voucher Program that Allows Businesses to Buy Rides for Their Customers

Ride-hailing giant Uber announced today its rolling out a new program called “Uber Vouchers” that allows businesses to offer free or subsidized Uber rides to customers. The program is targeting at businesses as a way to bring in more customers.

FutureCar Staff 2019-04-09 14:35 PT

Uber Expands Ride Pass to 20 More U.S. Cities

Uber Expands Ride Pass to 20 More U.S. Cities

Uber riders looking to pay a monthly fee for discounted rates for rides with the ride-sharing service don’t need to be in Los Angeles, Miami, Denver, Austin, or Orland, as the company expanded its subscription service to other cities.

Vineeth Joel Patel2019-03-31 07:00 PT

Report Claims Uber’s Autonomous Car Program Was Going Through $20 Million per Month

Report Claims Uber’s Autonomous Car Program Was Going Through $20 Million per Month

In order to reach its lofty goals, Uber’s self-driving arm was burning through $20 million a month – all in the name of developing technology for autonomous vehicles.

Vineeth Joel Patel2019-03-14 06:00 PT

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