Uber – Page 473 – I wish I had more to offer

Uber sets $7.3bn valuation on self-driving car unit

Figure comes on $1bn investment from Toyota, SoftBank fund and Denso investment Go to Source

UPDATE 1-Uber’s self-driving unit valued at $7.25 bln in new investment

SAN FRANCISCO (Reuters) – Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering. FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September… Continue reading UPDATE 1-Uber’s self-driving unit valued at $7.25 bln in new investment

Anatomy of a Debacle: Uber and Shimano Threw Lyft-Owned Citi Bike Under the Bus – Streetsblog California

Does Macy’s tell Gimbels? In the days since Citi Bike officials hastily pulled all their e-bikes from New York, San Francisco and Washington, D.C., the Lyft-owned company has been under fire for not fixing the brake problem that has caused an unspecified number of crashes. But a clearer picture of Brake-gate is emerging — and… Continue reading Anatomy of a Debacle: Uber and Shimano Threw Lyft-Owned Citi Bike Under the Bus – Streetsblog California

Uber, Lyft implement new safety measures

Uber and Lyft instituted new safety features and policies this week. The move follows the death of Samantha Josephson, a student at the University of South Carolina, who was kidnapped and murdered in late March. She was found dead after getting into a vehicle that she believed to be her Uber ride. The murder, which… Continue reading Uber, Lyft implement new safety measures

Elon Musk says Tesla cars will be ‘fully driverless’ by 2020 – and boasts they’ll drive better than YOU – The Sun

TESLA cars could be free to operate completely autonomously as soon as this year – and certainly by “next year at the latest”. That’s the bold claim from car chief Elon Musk, who reckons his driverless motors will be even better than you on the road. Kyle Grillot Eternal braggard Elon Musk reckons his driverless… Continue reading Elon Musk says Tesla cars will be ‘fully driverless’ by 2020 – and boasts they’ll drive better than YOU – The Sun

Waymo launches robotaxi app on Google Play

Waymo is making its ride-hailing app more widely available by putting it on the Google Play store as the self-driving car company prepares to open its service to more Phoenix residents. The company, which spun out to become a business under Alphabet, launched a limited commercial robotaxi service called Waymo One in the Phoenix area… Continue reading Waymo launches robotaxi app on Google Play

Lyft adds Citi Bikes to its app for NYC riders

Lyft is going to integrate Citi Bike into its app for some riders in New York City. Lyft acquired bike-share startup Motivate back in July and proceeded to become a one-stop transportation app in three cities in December. Now, it’s ready to do the same in New York. Beginning early next month, Lyft customers in… Continue reading Lyft adds Citi Bikes to its app for NYC riders

Uber’s JUMP Bikes founder and Scoot’s SVP of Product are talking bikes and scooters at TC Sessions: Mobility

Micromobility — electric personal vehicles — has gone from being non-existent to ubiquitous across cities all over the world. Currently, we’re seeing micromobility take on the form of electric scooters and pedal-assist bikes. JUMP and Scoot operate in both of those categories. JUMP got its start as a pedal-assist bike-share startup, but has since evolved… Continue reading Uber’s JUMP Bikes founder and Scoot’s SVP of Product are talking bikes and scooters at TC Sessions: Mobility

Equity transcribed: Digging into the Uber S-1

Welcome back to this week’s transcribed edition of Equity, TechCrunch’s venture capital-focused podcast that unpacks the numbers behind the headlines. And because it’s another week, why not another emergency episode? This time Kate Clark and Alex Wilhelm popped in the studio an hour before they were due to record the regular episode in order to… Continue reading Equity transcribed: Digging into the Uber S-1

Tesla Will Use Model 3 Lease Returns For Its Own Autonomous Ride-Hailing Network

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Autonomous Vehicles

Published on April 12th, 2019 |

by Kyle Field

Tesla Will Use Model 3 Lease Returns For Its Own Autonomous Ride-Hailing Network

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April 12th, 2019 by Kyle Field

Tesla broke the news on its blog today that it would be using lease returns from its new Tesla Model 3 lease program in “the Tesla ride-hailing network.” The blog post is the second confirmation that Tesla will actually own and operate its own fleet of fully autonomous ride-hailing vehicles, with the first note along these lines coming years ago on a quarterly Tesla conference call.

“Beginning today, customers in the U.S. will be able to lease Model 3 for a small down payment and competitive monthly payments. Customers can choose any Model 3 variant and select an annual mileage option of 10,000, 12,000, or 15,000 miles.

“Please note, customers who choose leasing over owning will not have the option to purchase their car at the end of the lease, because with full autonomy coming in the future via an over-the-air software update, we plan to use those vehicles in the Tesla ride-hailing network. Customers can visit tesla.com/3 now to lease a Model 3.”

Previous to today’s announcement, Tesla had spoken of its fully autonomous “Tesla Network” a few times but primarily did so in the context of allowing owners to add their vehicles to the fully autonomous network when their vehicles were not in use. From Tesla’s Master Plan, Part Deux:

“You will also be able to add your car to the Tesla shared fleet just by tapping a button on the Tesla phone app and have it generate income for you while you’re at work or on vacation, significantly offsetting and at times potentially exceeding the monthly loan or lease cost.”

The news today emphasizes that the reach of the Tesla Network will include a fleet of Tesla-owned and Tesla-operated vehicles running around town. The new business model will see Tesla running head first into a market dominated by Uber and Lyft, but without the overhead of a driver. Conversely, Tesla will be running a hybrid business model that will see Tesla-owned vehicles operating side by side with privately owned Teslas for customers’ business. The shift in tactics makes a lot of sense and could see Tesla becoming the first in the ride-hailing industry to actually turn a profit.

Waymo has been pushing forward in this direction and already has a pilot up and running in the greater Phoenix area, but is saddled with the full capital cost of having to develop its own autonomous vehicle solution. Its solution is being bolted onto Chrysler Pacificas that only add to the capital requirement. Tesla, on the other hand, will use its own vehicles, ones that have already had their most expensive depreciation paid for by lessees.

The Tesla Network is not a sure win for Tesla, but does signal that the company continues to ramp up its investment in its in-vehicle software solutions. Its Autopilot and Full Self Driving software packages form the foundation for a new company-owned ride-hailing network as well as a customer-owned ride-hailing network. As the vehicle manufacturer, it appears that gives Tesla a leg up on anyone else currently doing business in the space. That is, if Tesla can deliver on its promise of a “feature complete” Full Self Driving solution by the end of 2019 and a fully baked, “set it and forget it” Full Self Driving solution by the end of 2020.

About the Author

Kyle 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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