The Boring Company shared a short clip showing off one of the underground stations it’s building as part of the Las Vegas Convention Center (LVCC) loop.
"We are all-in on autonomous vehicles," as well as electric vehicles, said Jose Munoz, president and CEO and Hyundai Motor North America, at an Automotive Press Association teleconference. Early next year, the redesigned Tucson compact crossover goes into production at Hyundai's Montgomery, Alabama plant, which also will begin building the Santa Cruz in late spring as part of a $410 million expansion. Munoz said Hyundai will work with the new Biden administration to develop infrastructure to s
Richard Branson's Virgin Hyperloop has completed the world's first passenger ride on a super high-speed levitating pod system, the company said on Sunday, a key safety test for technology it hopes will transform human and cargo transportation. Virgin Hyperloop executives Josh Giegel, its Chief Technology Officer, and Sara Luchian, Director of Passenger Experience, reached speeds of up to 107 miles per hour (172 km per hour) at the company's DevLoop test site in Las Vegas, Nevada, the company sa
Companies describe the contest as a matter of ensuring flexibility for a new generation of workers who want to choose when and how they work. Opponents see an effort to exploit workers and avoid employee-related costs that could amount to more than $392 million each for Uber Technologies Inc, Lyft Inc, a Reuters calculation showed.
Then it was another woman's turn in the exercise to prepare drivers for Uganda's new all-female ride-hailing service, Diva Taxi. The taxi service, dreamed up by a local woman who lost her logistics job at the start of the coronavirus outbreak, was launched in June and has recruited over 70 drivers. It's uncommon to find women taxi drivers in Uganda, a socially conservative East African country where most women labor on farms or pursue work in the informal sector.
The two ride-hailing companies would each face more than $392 million in annual payroll taxes and workers' compensation costs even if they drastically cut the number of drivers on their platforms, a Reuters calculation showed. The companies say they would need to significantly hike prices to offset at least some of those additional costs, which in turn would likely cause a decrease in consumer demand, but cushion the blow of the added costs to the bottom line.
Zoox, the automated vehicle technology startup that was acquired by Amazon this year, has been issued a permit from California regulators that will allow it to test driverless vehicles on public roads. The permit is not for all public roads in the state, but it's still notable, considering the company will be able to test its vehicles without a human safety operator behind the wheel. The California Department of Motor Vehicles, the agency that regulates automated vehicle testing in the state,
Lyft in a blog post on Thursday said it would suspend its California operations at midnight. Uber in a blogpost said it would have to temporarily shut down unless the appeals court intervenes. Lyft shares dropped 6.2% to $26.41, while Uber shares were down 2.3% to $28.74.
Uber recorded an adjusted loss in earnings before interest, taxes, depreciation and amortization of $837 million in the second quarter. Ride-hailing trips, in the past responsible for nearly two-thirds of Uber's revenue, increased 5 percentage points from their low in April, but gross bookings remained down 75% from last year. Uber's chief executive officer, Dara Khosrowshahi, told analysts on a conference call on Thursday that rides recovery depended on the ability of different countries to
Lyft users can book a designated car through the ride-hailing app, add insurance and extras and directly pick up the car from the rental lot without waiting at the counter. Lyft already runs a limited rental car program in Los Angeles and the San Francisco Bay Area without the involvement of any car rental companies. "COVID has caused a change in behavior and people need different transportation options," Cal Lankton, Lyft's vice president of Fleet & Global Operations, said in an interview.
Ride-sharing scooter startup Revel said Tuesday it is suspending operations in New York City after a second fatal crash in less than two weeks. Revel tweeted that service “will be shut down until further notice” as it reviews safety and rider accountability measures. Mayor Bill de Blasio said city officials spoke to Revel executives on Tuesday and made clear the company’s safety record is “an unacceptable state of affairs.”