Harald Kruger, CEO and Chairman of the Board of Management of BMW AG and Dieter Zetsche, CEO of Daimler AG, shake hands at a news conference to present plans for combining the companies’ car-sharing businesses, in Berlin, Germany, February 22, 2019. REUTERS/Axel Schmidt BERLIN (Reuters) – German carmakers Daimler and BMW unveiled a joint ride-hailing,… Continue reading UPDATE 1-Daimler, BMW to invest 1 bln euros in venture to rival Uber
Tag: Uber
Lime hires its first CFO
Lime is hiring Ted Tobiason, former managing director in tech equity capital markets, at Morgan Stanley, to serve as its chief financial officer. This comes following Lime’s behemoth of a $310 million Series D round earlier this month. Led by Bain Capital Ventures, Andreessen Horowitz, Fidelity Ventures, GV and IVP, the round values Lime at $2.4 billion. Lime, which… Continue reading Lime hires its first CFO
On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn
Lalamove, a Hong Kong-based on-demand logistics startup, has closed a $300 million Series D round as it seeks expansion across Asia. In doing so, the company has officially entered the unicorn club. Founded in 2013 by Stanford graduate Shing Chow, Lalamove provides logistics and delivery services in a similar style to ride-hailing apps like Uber… Continue reading On-demand logistics startup Lalamove raises $300M for Asia growth and becomes a unicorn
Texas Startup Offering City-To-City Shuttle Service In Teslas
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Cars Published on February 18th, 2019 | by Kyle Field
Texas Startup Offering City-To-City Shuttle Service In TeslasTwitterLinkedInFacebookFebruary 18th, 2019 by Kyle Field
A new startup is building an army of Teslas in Texas to establish a city-to-city shuttle service. ElecTrip is the name of this new luxury city-to-city shuttle service.
The business is unique in that it does not plan to own all of the Teslas it needs, but has purchased two vehicles to anchor its operations. In order to grow its capacity beyond those two vehicles, the company is reaching out to private owners and asking to rent their vehicles from them for the day as needed. In exchange, owners will get $100 to $175 per day, depending on the number of miles put on their vehicle while it was out.
On the customer front, ElecTrip is offering passengers a dedicated Tesla shuttle that will take them from within 50 miles of their starting city to another city within a 4-hour drive without needing a charge. The hope is that passengers will be willing to pay more than they would for a comparable Uber or Lyft for a premium, dedicated experience.
ElecTrip is aiming at what it sees as a sweet spot in pricing between ride-sharing services and airline travel. Hopping on a plane could be faster, but with the additional security and hassle, taking a door to door shuttle could be a more appealing offering, especially if the service can hit a lower price point. Airline travel also comes with a massive emissions footprint that electric transportation is able to improve upon.
The price for the service ranges from $200 for the 1 hour and 20 minute run from Austin to San Antonio all the way up to $430 for the 3½ hour slog from Houston to Dallas. Don’t think that $430 puts them out of the running, as the service can accommodate up to 5 people, which has the potential to make riding in a Tesla the lower cost option in many cases.
ElecTrip was founded by two University of Texas at Austin grads who were attracted to the idea of electric vehicles and started looking for a way to capitalize on the lower maintenance costs of the vehicles. The business is still just getting off its feet, but one year into the adventure, the founders are excited by the rapid month-over-month growth they continue to see.
Related:
New Tesla Shuttle Website For USA
Boston ↔ NYC In A Tesla
Tesla Shuttle Flies Into Florida
About the AuthorKyle Field I'm a tech geek passionately in search of actionable ways to reduce the negative impact my life has on the planet, save money and reduce stress. Live intentionally, make conscious decisions, love more, act responsibly, play. The more you know, the less you need. TSLA investor.
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Flipkart co-founder Sachin Bansal invests $92M in Ola
The money is starting to flow from India’s largest startup exit. Ola has added a major name to its ongoing financing round after it confirmed that Flipkart co-founder Sachin Bansal has invested 650 crore INR (around $92 million) into the Indian ride-hailing business. The deal rumored in January when Paper.vc, an intelligence service that sifts through company… Continue reading Flipkart co-founder Sachin Bansal invests $92M in Ola
China ride-hailing giant Didi to lay off 15% employees this year: Source
Didi Chuxing will lay off 15% of its staff or about 2,000 people this year, a source said, marking the ride-hailing firm’s first major cut back as it grapples with regulatory scrutiny and public backlash over the murder of two of its users. Didi CEO Cheng Wei said at a meeting with management that the… Continue reading China ride-hailing giant Didi to lay off 15% employees this year: Source
Uber reports $3B in Q4 revenue, rising operating losses
Ahead of its anticipated initial public offering this year, Uber reported a net loss of $865 million in the fourth quarter. That figure, however, was aided by a tax benefit that saved the company from reporting a $1.2 billion net loss in the period. On an adjusted, pro-forma basis, Uber’s net loss in the final… Continue reading Uber reports $3B in Q4 revenue, rising operating losses
Uber posts $50 billion in annual bookings as profit remains elusive ahead of IPO
SAN FRANCISCO (Reuters) – Uber Technologies Inc had $50 billion in total bookings for its ride-service and food-delivery businesses last year, a testament to the size and global reach of the company as it prepares to woo investors in one of the biggest public stock listings to date. FILE PHOTO: Uber’s logo is displayed on… Continue reading Uber posts $50 billion in annual bookings as profit remains elusive ahead of IPO
General Motors starts taking orders for its electric bicycle
Source: General Motors
The ARĪV Meld is a compact eBike
General Motors just unveiled its electric bicycle in a bid to arm itself against an uncertain future for cars.
The largest U.S. automaker on Thursday released the name of its bike, Ariv, and said it will start taking orders in select countries in Europe.
The name is the result of a crowdsourced campaign announced in November. There are two versions: the Meld, a compact e-bike, and the Merge, a folding e-bike.
GM is launching the bikes in Germany, Belgium and the Netherlands, where lithium-ion battery-powered e-bikes are popular. In Belgium and the Netherlands, the Ariv Meld starts under $3,200 and the Ariv Merge is around $3,800. Prices will be slightly lower in Germany. GM expects to begin shipping to customers in the second quarter.
It is another move by a major automaker to broaden its portfolio to protect against the uncertainties of a changing market. GM and rivals have expanded into scooters, ride-sharing and self-driving cars in an effort to stay relevant in an era where consumers' transportation choices are changing. Even motorcycle maker Harley-Davidson has unveiled lightweight electric two-wheeler concepts as fears of declining ridership grow.
“I think both GM and Ford are both exploring nontraditional transportation opportunities because their overall vehicle sales have been declining,” CFRA analyst Garrett Nelson said. “We view GM's e-bike and Ford's recent e-scooter investment [in Spin] as an attempt to appeal to a younger and more urban demographic, whose transportation needs are proving to be considerably different than prior generations.”
With ride-hailing companies and similar businesses spreading, some industry watchers wonder whether broad swaths of future generations will even consider car ownership at all.
“Carmakers are highly concerned about the implications of this ongoing shift in consumer preferences on their long-term car sales, particularly with the rise of Uber, Lyft, and various ride-sharing options which weren't available several years ago,” Nelson said. “Their fear is that this demographic may not need — or want to — purchase a vehicle at all.”
Driverless truck startup TuSimple raises $95 million at $1 billion valuation – VentureBeat
There’s a healthy demand for driverless trucks. It’s an industry predicted to reach 6,700 units globally, totaling $54.23 billion this year, and one that stands to save the logistics and shipping industry $70 billion annually while boosting productivity by 30 percent. Besides cost savings, the growth is driven in part by a shortage of human drivers. In 2018,… Continue reading Driverless truck startup TuSimple raises $95 million at $1 billion valuation – VentureBeat