Lyft on Tuesday reported $569.9 million in Q4 revenue, beating expectations of $562.49 million. Lyft reported GAAP losses per share of $0.58, beating analyst expectations of a $0.72 loss per share. Lyft shares jumped 10% as the company said it expects to be profitable by Q4 2021. Visit the Business section of Insider for more… Continue reading Lyft shares jump 10% after its earnings reveal cost cutting and signs of pandemic recovery (LYFT)
Tag: Lyft
Lyft maintains goal of profitability by end-2021, sees rides recovery in second quarter
By Tina Bellon, Akanksha Rana 4 Min Read (Reuters) – Lyft Inc said on Tuesday it stood by its goal to become profitable on an adjusted basis by the end of this year despite the pandemic, forecasting a rebound in ride-hail demand beginning in the second quarter of 2021. FILE PHOTO: The Lyft Driver Hub… Continue reading Lyft maintains goal of profitability by end-2021, sees rides recovery in second quarter
CA Supreme Court denies lawsuit challenging Prop 22’s constitutionality
The California Supreme Court today shot down the lawsuit filed by a group of rideshare drivers in California and the Service Employees International Union that alleged Proposition 22 violates the state’s constitution. “We are disappointed in the Supreme Court’s decision not to hear our case, but make no mistake: we are not deterred in our… Continue reading CA Supreme Court denies lawsuit challenging Prop 22’s constitutionality
@niche: Electric Car Wars: Who Will Come Out on Top?000494
Electric vehicle stocks have been on fire this past year, outperforming every other sector in the market. The sector’s favorite benchmark–Global X Autonomous & Electric Vehicles ETF (DRIV)–has climbed 75.3% over the past 12 months and is already up 13.6% YTD, managing to even outperform the red-hot biotech sector as the Covid-19 vaccine rollout gets… Continue reading @niche: Electric Car Wars: Who Will Come Out on Top?000494
EVgo to go public via SPAC in bid to power EV charging expansion
EVgo, the wholly owned subsidiary of LS Power that owns and operates public fast chargers for electric vehicles, has reached a deal to become a publicly traded company through a merger with special-purpose acquisition company Climate Change Crisis Real Impact I Acquisition Corporation. The combined company, which will be listed under the new ticker symbol… Continue reading EVgo to go public via SPAC in bid to power EV charging expansion
Charging company EVgo is going public via SPAC merger
Another company in the electric vehicle industry is going public by merging with a so-called SPAC, or special purpose acquisition company. This time, it’s EVgo, one of the leading providers of electric vehicle charging stations in the US. The deal is expected to bring in $575 million for EVgo. When it closes, EVgo will become… Continue reading Charging company EVgo is going public via SPAC merger
Waymo grew its lead in the self-driving industry with a triumphant 2020. Experts reveal the key step the Google spin-off needs to take in 2021 to keep rivals like Cruise and Aurora at bay.
Waymo is seen by many experts as the autonomous-vehicle industry’s leader. The company racked up a number of accomplishments in 2020, including making driverless rides available to all users of its Waymo One ride-hailing service, forming partnerships with Daimler and UPS, and raising $3.2 billion. To build on its lead in 2021, Waymo needs to… Continue reading Waymo grew its lead in the self-driving industry with a triumphant 2020. Experts reveal the key step the Google spin-off needs to take in 2021 to keep rivals like Cruise and Aurora at bay.
World NM: Hyundai JV, Lyft to launch driverless U.S. robotaxi services in 2023000625
In October, Motional partnered with U.S. on-demand shuttle startup Via to launch a shared robotaxi service in the U.S. next year. In the partnership, Motional’s self-driving vehicles will serve as on-demand, shared robotaxies based on Via technology that covers booking, passenger and vehicle assignment and identification, and fleet management. Motional, headquartered in Boston, plans to… Continue reading World NM: Hyundai JV, Lyft to launch driverless U.S. robotaxi services in 2023000625
Lyft, Motional to launch multi-city U.S. robotaxi service in 2023
By Paul Lienert 2 Min Read DETROIT (Reuters) – Lyft Inc and Motional will launch a multi-city U.S. robotaxi service in 2023, the partners said on Wednesday. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson The driverless vehicles will be provided by Motional, a joint… Continue reading Lyft, Motional to launch multi-city U.S. robotaxi service in 2023
Chinese Uber competitor DiDi unveiled a futuristic EV made specifically for ride-sharing — see the D1
DiDi Chuxing has unveiled a custom electric sedan built specifically for ride-shares: the D1. The D1 was built in partnership with electric vehicle maker BYD. The electric vehicle has features like a smart steering wheel, several touchscreens, and artificial intelligence systems. The D1s will be used by drivers across cities in China over the next several… Continue reading Chinese Uber competitor DiDi unveiled a futuristic EV made specifically for ride-sharing — see the D1