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Archive for the ‘Lyft’ Category

Ride-Hailing Services Don’t Cut Traffic, They Add to It, Study Says

Many users would have simply taken mass transit or walked.

by on May.14, 2019

A new study suggests ride-hailing services, like Uber and Lyft, increased traffic delays in San Francisco by 62%.

Early in their growth, ride-hailing services, like Uber and Lyft, were seen as potential replacements for new vehicles; however, a new study suggests they only add to the number of vehicles on the road.

According to the new study, traffic delays in San Francisco – the test city in the study – during weekdays jumped 62% from 2010 to 2016, which is after transportation network companies, i.e. ride-hailing companies, began to offer services in the city.

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Researchers from the University of Kentucky and the San Francisco County Transportation Authority conducted the study using data from ride-hailing companies and Inrix Inc., a traffic-mapping and connected-car services supplier. (more…)

Uber Stock Keeps Falling After Stumbling Out of Gate

CEO Khoshorashi tells employees to hang tough.

by on May.13, 2019

Uber CEO Dara Khosrowshahi asked employees in an email to hang in the as the stock price fluctuates.

Ride-hailing leader Uber saw its shares, which hit the market last week, continue to fall today into the $37 range after stumbling out of the gate.

Uber priced its initial public offering at the bottom end of the range at $45 per share after watching rival Lyft’s offering decline substantially after its debut earlier this year. The stock fell immediately when it debuted Friday, closing at $39.

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“Pricing a deal is an art not a science,” said CEO Dara Khosrowshahi while interviewed on CNBC.  (more…)

GM Could Earn Close to $1B in Profit from Today’s Lyft IPO

Future for GM/Lyft alliance uncertain, however.

by on Mar.29, 2019

Lyft founders Logan Green, left, and John Zimmer, right, with GM President Dan Ammann after inking a $500M partnership, which jumped another $500M.

General Motors could turn a large investment into an even bigger profit if the IPO of the nation’s second-largest ride-sharing service goes off as planned today.

On Thursday, Lyft announced it was targeting $72 a share for its public debut. At that price, GM’s 18.6 million Class A shares would be worth more than $1.3 billion, a big increase over the $500 million it originally invested in Lyft back in January 2016.

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The question is whether the Detroit automaker will take the money and run or continue to work with Lyft. When it announced its investment more than three years ago, GM indicated it saw an opportunity to not just provide products to Lyft drivers but also to use the service as a test bed for the autonomous vehicles it was developing. But it now appears to be shifting focus to Maven, a service that could soon become a major Lyft competitor. (more…)

Over 70% of Americans “Afraid” to Ride in a Fully Autonomous Car

"The good, the bad and the ugly."

by on Mar.14, 2019

The fatal crash involving an Uber vehicle in Tempe, AZ has negatively shaped many peoples' view of autonomous vehicle technology, AAA found.

Almost exactly a year after an autonomous Uber prototype struck and killed a pedestrian in Tempe, Arizona, a new AAA study finds more than seven in ten Americans “afraid” of riding in a fully autonomous vehicle.

That’s despite the fact that 100s of self-driving prototypes are plying U.S. roads on a daily basis, a number that could soon climb into the tens of thousands if Congress moves to approve proposed legislation designed to help make the technology a part of everyday life. Already, the first self-driving vehicle ride-sharing program has gone into operation, launched last December by Google spin-off Waymo.

Out of this World!

“Automated vehicle technology is evolving on a very public stage and, as a result, it is affecting how consumers feel about it,” said Greg Brannon, AAA’s director of Automotive Engineering.

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Nissan IMQ “Signals the Direction” of Future Electric CUVs

A “seamless” blending of exterior and interior design.

by on Mar.05, 2019

Nissan designers opted for a sharper and more angular approach to the design of the IMQ.

Think of the new Nissan IMQ concept vehicle as a rolling crystal ball. Following on the debut of the IMs prototype at the Detroit Auto Show two months ago, the Japanese maker says its latest concept “signals the direction of (its) next generation of crossovers.”

Make that battery-electric CUVs, for the concept vehicle that debuted today at the Geneva Motor Show reveals the next-generation e-Power system, an all-electric powertrain that you might think of as the familiar Nissan Leaf on steroids.

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Actually, that is a bit misleading, as the Nissan IMQ carries with it a 1.5-liter gas engine that serves solely as a generator, providing energy when the battery is drained. That’s the same approach BMW has taken with its little i3 city car. The internal combustion engine never actually provides direct power to the wheels.

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Lyft IPO Depends on an Autonomous Future

Driverless vehicles would eliminate its biggest expense.

by on Mar.04, 2019

Lyft continues to grow, but to accelerate that, the company is looking to raise big money through an IPO.

Running in the red every single quarter is normally not a good formula for success, though Tesla has shown that deficits aren’t necessarily verboten with investors. So, despite losing more than $2 billion during  the last two years alone, Lyft is preparing to go public.

The federal paperwork it filed last week is loaded with cautionary notes, and it appears to be asking potential investors to keep their eye on one development that could transform Lyft – as well as competitors like Uber and Waymo – into a cash cow: the arrival of driverless vehicle.

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“We have incurred net losses each year since our inception and we may not be able to achieve or maintain profitability in the future,” the company said in its filing with the Securities and Exchange Commission. (more…)

BMW, Daimler Launching New Ride-Sharing Service, Other Mobility Ventures

New partners open door to other participants.

by on Feb.22, 2019

BMW Chief Harald Krueger, left, and Daimler AG Chairman Dieter Zetsche are all smiles after announcing plans to merge mobility operations.

Nearly a year after announcing plans to combine their ambitious mobility services operations, Mercedes’ parent Daimler and erstwhile rival BMW have announced an array of new joint venture projects that will include car and ride-sharing operations that could challenge upstarts like Uber, Lyft and China’s Didi Chuxing.

The two luxury automakers plan to invest a combined 1 billion euros, or about $1.1 billion, to expand the five projects BMW CEO Harald Krueger and Daimler CEO Dieter Zetsche outlined at a news conference Friday, which also include parking and electric vehicle charging. The two newly minted partners also opened the door to cooperation with other automotive manufacturers.

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“These five services will merge ever more closely to form a single mobility service portfolio with an all-electric, self-driving fleet of vehicles that charge and park autonomously,” said BMW Chief Executive Harald Krueger. (more…)

Waymo Kicks Off Autonomous Taxi and Ride Sharing Service

Autonomous service starts in Phoenix.

by on Dec.05, 2018

This scene may become more common as Waymo One kicks off service in Arizona.

Self-driving ride-sharing service is here. Well, it’s in Arizona, technically, but the day that Uber, Lyft and others have waiting for has arrived with the debut of Waymo One, Waymo’s autonomous taxi and ride-sharing service.

The service operates in a 100-square-mile zone covering four Phoenix suburbs: Chandler, Tempe, Mesa and Gilbert. The company has been testing its vehicles in the area since 2016, including offering free rides earlier this year to generate some goodwill for autonomous vehicles.

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“Over time, we hope to make Waymo One available to even more members of the public,” John Krafcik, Waymo’s CEO wrote in a blog post. “Self-driving technology is new to many, so we’re proceeding carefully.” (more…)

GM Expanding Maven Peer-to-Peer Rentals to Include Other Brands

Other brands will be available in mid-2019.

by on Nov.13, 2018

General Motors Vice President Urban Mobility and Maven Julia Steyn said the company will be adding non-GM vehicles to its peer-to-peer rental fleet.

Maven, General Motors’ private ride-sharing service, is undergoing an expansion early next year. Before gig-based entrepreneurs around the country begin salivating, the expansion is product-based not geographic.

The company is going to allow non-GM brand products to be rented on the platform starting in the middle of 2019, a GM official revealed.

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According to Julia Steyn, vice president of GM Urban Mobility and Maven, said Monday during a presentation at the UBS Global Technology Conference in San Francisco, that Maven plans expand the platform to micro-fleet entrepreneurs. (more…)

Daimler, Bosch Partner as Latest to Offer Self-Driving Ride-Sharing Service

Pilot set to launch in San Jose in late 2019.

by on Nov.09, 2018

Daimler and Bosch will led pilot users ride in comfort, in modified Mercedes-Benz S-Class sedans.

Daimler AG, the parent of Mercedes-Benz, has announced plans to launch an autonomous ride-sharing pilot program in San Jose, California starting late next year.

The carmaker, along with one of its lead technology suppliers, becomes the latest to enter a space that is expected to account for a significant share of the miles Americans clock on the roads each year by the end of the next decade. Waymo, the Google spin-off, is set to transition its own pilot program to a commercial venture this year, while General Motors is looking to launch a similar service.

The Last Word!

“The pilot project is an opportunity to explore how autonomous vehicles can help us better meet future transportation needs,” said San Jose Mayor Sam Liccardo.

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