Motional, the Aptiv-Hyundai $4 billion joint venture aimed at commercializing autonomous vehicles, is preparing to roll out fully driverless vehicles on public roads in Las Vegas after receiving approval from the state of Nevada. The company’s president and CEO Karl Iagnemma announced Tuesday in a blog post that the state has given permission to test… Continue reading Motional gets approval to test fully driverless vehicles in Nevada
Tag: Lyft
India’s new ride hailing rules cap driver hours and limit surge pricing
Sponsored Links Manish Rajput/SOPA Images/LightRocket via Getty Images India is bringing app-based ride hailing services under dedicated regulation for the first time, and it might just set an example for other countries. TechCrunch reports the country has instituted guidelines that set expectations for both drivers and customers. Drivers can’t work more than 12 hours, for… Continue reading India’s new ride hailing rules cap driver hours and limit surge pricing
Hyundai-backed Motional to launch fully driverless cars in Las Vegas
Motional, the self-driving car operator backed by Hyundai and Aptiv, has received the green light to roll out a test fleet of fully driverless cars in Las Vegas. The state of Nevada has granted the company permission to operate its autonomous vehicles without a human safety driver behind the wheel. Currently, only a small handful… Continue reading Hyundai-backed Motional to launch fully driverless cars in Las Vegas
Top Automotive Industry News for Week of November 2 – November 8, 2020
Here is the most important news associated with the automotive industry identified by the AEA for the week of November 2, 2020 – November 8, 2020. We hope it helps you stay up to speed on the key developments in our industry: -Automotive Executives Association (AEA) News- The AEA is excited to open our unique… Continue reading Top Automotive Industry News for Week of November 2 – November 8, 2020
DoorDash files for IPO and hints at driverless future
Food delivery platform DoorDash filed its widely anticipated IPO with the Securities and Exchange Commission on Friday, and plans to take the company public early next month. The company’s revenue soared in 2020 and it briefly showed a profit, as restaurants closed to in-person dining due to the pandemic, and relied on delivery services. DoorDash… Continue reading DoorDash files for IPO and hints at driverless future
Lyft: Lyft Announces Third Quarter Results
Results reflect ongoing recovery, with third quarter revenue up 47% quarter-over-quarterEnded quarter with $2.5 billion of unrestricted cash, cash equivalents and short-term investments SAN FRANCISCO, Nov. 10, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its third quarter ended September 30, 2020. “Lyft’s third quarter results reflect our focused execution and… Continue reading Lyft: Lyft Announces Third Quarter Results
Uber and Lyft Drivers in California Will Remain Contractors
[President-elect Joe Biden’s victory prompts spontaneous celebrations.] OAKLAND, Calif. — Drivers and other workers for so-called gig economy companies in California will not become their employees. California voters carried Uber and Lyft to victory, overwhelmingly approving Proposition 22, a ballot measure that allows gig economy companies to continue treating drivers as independent contractors. Uber, Lyft… Continue reading Uber and Lyft Drivers in California Will Remain Contractors
California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
California voters approved Proposition 22, a legislation that keeps rideshare and food delivery drivers as “independent contractors” who do not qualify for state and local employee benefits like minimum wage, healthcare, or paid time off. The ballot measure, backed by Uber, Lyft, Instacart, and DoorDash, exempts firms from AB-5, a state law that would have… Continue reading California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
Lyft executives celebrate the company’s IPO in 2019. Mario Tama/Getty Images Uber shares rose as much as 18% and Lyft shares jumped as much as 22% on Wednesday after California voters approved Proposition 22. The ballot measure’s passage means the ride-hailing companies can continue to classify their drivers as independent contractors instead of employees, exempting… Continue reading Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
California Voters Side with Uber, Lyft in Battle over Gig Worker Labor Laws
Experts warn it could set an expectation that large companies can circumvent the government when legislation is passed that goes against their interests. Photo via Todd Lappin/Flickr. Millions of California voted to pass Proposition 22, classifying app-based drivers as gig workers, not employees. Backed by Uber, Lyft, and food delivery apps such as Postmates, Prop 22 exempts… Continue reading California Voters Side with Uber, Lyft in Battle over Gig Worker Labor Laws