As Lyft Inc cruises toward an initial public offering in March, one of the big winners is going to be General Motors, whose stake in the ride-hailing firm could cost as much as $1.27 billion. GM is not discussing about its plans for that investment, and investors surveyed by Reuters, owning a collective 35.7 million
German automaker Volkswagen is going to write off its investment in Gett after the Israel-based ride hailing app failed to achieve ground on bigger competitors Uber, Lyft and Didi, weekly Der Spiegel reported on Friday. Volkswagen spent $300 million in Gett in 2016, saying it intended for on-demand mobility services such as smartphone ride hailing
General Motors CEO Mary Barra stated on Tuesday the No. 1 U.S. automaker at present has no projects underway with ride-sharing company Lyft, where it is holding 9 percent stake. Competing automaker Ford Motor stated last year it will work with Lyft to deploy large amount of Ford self-driving vehicles on Lyft’s network by 2021.
Ford Motor stated on Wednesday it will work together with Lyft to deploy Ford self-driving vehicles on the ride-services company’s network in huge numbers by 2021. Ford and Lyft will start their collaboration for developing software to allow Ford automobiles to interact with Lyft’s smartphone apps. Ford self-driving test vehicles will be linked to Lyft’s
General Motors stated it has finished production of 130 self-driving Chevrolet Bolt electric vehicles at its Orion assembly plant located in Michigan. The automaker anticipates to deploy the cars within the month in San Francisco and Scottsdale, Arizona, in collaboration with its ride-sharing affiliate Lyft Inc, following final test in Michigan, according to the company.
Silicon Valley’s newest mobility start-up, a short-term auto leasing company named Canvas, is backed by old-school muscle: Ford Motor Credit Co, the dealership and customer funding arm of U.S. car manufacturer Ford Motor. From its San Francisco base, Canvas began using variable-term leases with versatile payment options to Bay area consumers in early May, with
BMW will test self-driving automobiles in Munich next year as it looks to stay up to date with ride-hailing companies like Uber, which have invested billions on pay-per-use personal transport. The German automaker will have around 40 automobiles with self-driving functions in Munich’s inner city then broaden the project to other cities, BMW executives stated
Alphabet Inc’s Google unit and car manufacturers objected on Wednesday to California proposals to set new, compulsory rules for screening self-driving vehicles in the state, which market officials said could hobble their efforts in the home of much of self-driving automobile testing and advancement. Car manufacturers and Google raised a list of concerns about California’s
More than ever, vehicle makers and transport are discovering ways to integrate automatic driving into their product offerings. Tech business like Google, Uber, Lyft as well as automobile companies like Tesla, Toyota and Hyundai can all clearly see exactly what pushes the road ahead. Now one more business goes into the fray: Drive.ai. Drive.ai, doesn’t
Silicon Valley’s a highly valuable startup is struggling to make a profit. Uber lost $1.3 billion in the very first half of the year, as per a Bloomberg report citing unnamed sources privy to a conference call with investors of the privately held ride-hailing service. Uber has raised $16 billion for its quick expansion to
Race automobile drivers aren’t the only ones who will be supporting the wheel to contend this weekend. Motorists from throughout the state are wanting to cash in on one of the greatest durations of demand for transport in Indianapolis’ history. Many of drivers will be shuttling visitors and race fans to meals, events and, naturally,
Confronted with the plausibility customers may no longer purchase their own vehicles, more automakers are joining hands with their prospective future customers, ride hailing apps. On Tuesday, two of the world’s biggest automakers, Toyota and Volkswagen, individually revealed partnerships with 2 various ride-hailing companies. Toyota revealed it had actually made a tactical investment for a
About 90% of U.S. households own at least one car, however Uber wants to alter that. On Wednesday, Uber revealed exactly what it hopes will be the start of numerous regional realtor partnerships designed to motivate residents to ditch their vehicles for ride-sharing and public transport. This first partnership brings Parkmerced, a real estate located