Tag: Uber

Saudi sovereign fund PIF has bought a below 5 percent stake in Tesla: source

DUBAI (Reuters) – Public Investment Fund, Saudi Arabia’s sovereign wealth fund, has bought a minority stake in Tesla (TSLA.O) at just below 5 percent, a source familiar with the matter said on Tuesday. FILE PHOTO: A Tesla sales and service center is shown in Costa Mesa, California, U.S., June 28, 2018. REUTERS/Mike Blake/File Photo PIF… Continue reading Saudi sovereign fund PIF has bought a below 5 percent stake in Tesla: source

Self-driving truck startup Kodiak Robotics raises $40 million

In Don Burnette and Paz Eshel’s view, trucking is the killer app for self-driving technology. It’s what led Burnette to leave the Google self-driving project and co-found Otto in early 2016, along with Anthony Levandowski, Lior Ron, and Claire Delaunay. And it’s what would eventually prompt Burnette to leave Uber— href=”https://techcrunch.com/2016/08/18/uber-acquires-otto-to-lead-ubers-self-driving-car-effort-report-says/”>the company that acquired Otto—and co-found… Continue reading Self-driving truck startup Kodiak Robotics raises $40 million

China’s Didi pumps $1B into its rebranded driver services business

Didi Chuxing is going pedal to the metal for its automobile services business after it announced it will invest $1 billion into the division, which is also getting a rebrand. The Chinese ride-hailing firm had been tipped to spin out the business and raise $1.5 billion from investors ahead of an IPO, according to a recent Reuters… Continue reading China’s Didi pumps $1B into its rebranded driver services business

Stop Uber From Flooding New York

On Tuesday evening, the New York City Council introduced a bill to place a temporary cap on the number of for-hire vehicles — the kind provided by services like Uber and Lyft — allowed on the city’s streets. It’s about time: In recent years these cars have flooded New York, clogging our streets and driving… Continue reading Stop Uber From Flooding New York

Actually, Curbing Uber Won’t Relieve Heavy Traffic

Are ride-sharing and -hailing services like Uber and Lyft causing road congestion? This has been the perception in cities across the country, and the companies have come under fire for it. In New York City, it has led to a proposal to curb, for a year, for-hire-vehicle companies from adding new driver’s licenses (except for… Continue reading Actually, Curbing Uber Won’t Relieve Heavy Traffic

Rideshare companies offered New York $100M to drop proposed regulations

Lyft, Uber and Via yesterday made an offer to succor New York City’s beleaguered taxi medallion owners: a $100 million relief fund paid over five years to cover the plight of these poor souls. But the city, in its arrogance, refused this generosity! How could they? Perhaps because the money was contingent on New York… Continue reading Rideshare companies offered New York $100M to drop proposed regulations

Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla

BYE, BYE AUTONOMOUS SEMI. Just under two years ago, Uber bought Otto, a startup focused on developing self-driving trucks. Now, Uber is bidding adieu to its plans for autonomous shipping, at least for the time being. On Monday, the company revealed in a statement that it’s closing its self-driving truck division. Uber’s self-driving trucks were seen on… Continue reading Uber Kills Self-Driving Truck Division, Clearing the Road for Tesla

Lyft will pay you $550 to ditch your car for a month

Lyft is raising the stakes in its mission to dominate all modes of transportation in major cities. Starting in August, the ride-hailing company will offer 100 residents of Chicago $550 each in credit to Lyft and several other mobility services if they ditch their personal vehicles for a month. It’s a bold, if slightly gimmicky,… Continue reading Lyft will pay you $550 to ditch your car for a month

Grab defends position in Uber deal to Singapore’s anti-monopoly watchdog

SINGAPORE (Reuters) – Grab said on Friday it disagreed with the Singaporean anti-monopoly watchdog’s assessment that its takeover of Uber’s operations had harmed competition and called the commission’s suggested measure of removing exclusivity arrangements with drivers as “one-sided”. FILE PHOTO: A ComfortDelgro taxi passes Uber and Grab offices in Singapore March 26, 2018. REUTERS/Edgar Su/File… Continue reading Grab defends position in Uber deal to Singapore’s anti-monopoly watchdog