Latest news with #ridesharing
The Independent
9 hours ago
- Automotive
- The Independent
Uber will soon allow female passengers and drivers to stop being paired with men
Uber is rolling out a suite of features allowing U.S. customers and drivers to opt for women-only rides. 'Across the US, women riders and drivers have told us they want the option to be matched with other women on trips,' Camiel Irving, vice president of U.S. and Canada operations, wrote in a statement on Wednesday. 'We've heard them—and now we're introducing new ways to give them even more control over how they ride and drive.' The updates will allow riders to set a preference for only female drivers on on-demand or pre-booked trips, as well as offering drivers the ability to set a preference for only female customers. The features will be piloted across San Francisco, Los Angeles, and Detroit over the next five weeks, the company said. Uber began experimenting with such features for drivers in Saudi Arabia in 2019, after women there gained the legal right to drive. Since then, according to Uber, the Women Rider Preference program has expanded to 40 countries and been used across 100 million trips, and the company has continued to test features in markets like Germany and France. 'But making this work reliably—not just symbolically—required thoughtful design,' the company added in its statement. 'Most drivers are men, so we've worked to ensure this feature was truly usable in different places around the world.' A 2015 company survey estimated that about 20 percent of its U.S. drivers are women. Later this year, the company is expected to head to trial in federal court to face a consolidated set of cases stemming from hundreds of claims from women who say their Uber drivers sexually assaulted them. The suits, some of which were thrown out earlier this month, allege the company didn't do enough to notify riders about the risk of sexual assault in ads touting the service as a safe way to avoid drunk driving, and doesn't disclose allegations or records of past misconduct against drivers on in-app features listing driver information. Uber has said it does not comment on pending litigation. In court, it has argued that its drunk driving PSAs are unrelated to the topic of the risk of assault. It has also insisted it has no duty to add misconduct records to its driver notifications, and that it had no intent to mislead consumers, who haven't proven they relied on the content of driver notifications when decided to enter Uber rides.
Yahoo
a day ago
- Automotive
- Yahoo
Uber to add 20,000 self-driving Lucid Gravity SUVs to its ride-share platform
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Dive Brief: Lucid Group announced a new collaboration with Uber and autonomous driving technology developer Nuro to deploy a minimum of 20,000 self-driving Lucid Gravity SUVs on Uber's ride-share platform, according to a July 17 press release. The luxury electric SUVs will be equipped with Nuro's 'Nuro Driver' autonomous driving system and will be deployed over the next six years in dozens of Uber's global markets, per the release. The vehicles will be owned and operated by Uber or by one of its third-party fleet partners. The first of the Lucid Gravity robotaxi deployments is planned for a major U.S. city next year. Dive Insight: As a software-based EV, the electrical and control architecture of the Lucid Gravity make it an ideal vehicle platform to install the Nuro Driver and scale deployment, according to the release. In addition, the Gravity's 450-mile EPA estimated range means less frequent downtime is needed for charging, which will help Uber to maximize the vehicles' availability on its platform. 'This investment from Uber further validates Lucid's fully redundant zonal architecture and highly capable platform as ideal for autonomous vehicles, and our industry-leading range and spacious well-appointed interiors, as ideal for ridesharing,' said Lucid interim CEO Marc Winterhoff. 'This is the start of our path to extend our innovation and technology leadership into this multi-trillion-dollar market.' Nuro was co-founded in 2016 by former Google employees Jiajun Zhu and Dave Ferguson. Prior to launching Nuro, Zhu, who serves as CEO, was a founding member of Google's self-driving program, which later spun off as Waymo, while Ferguson was a principal engineer. Google, Japan-based Softbank and other top venture capital firms are among Nuro's investors. Also as part of the partnership, Uber is investing $300 million in Lucid via a private placement, according to an SEC filing. However, Uber plans to make 'multi-hundred-million dollar investments' in both Nuro and Lucid, according to the release. The Nuro Driver technology stack includes automotive-grade hardware and AI-powered software. The vehicle sensor suite includes a combination of solid-state lidar, cameras and radars for safe navigation. Nuro's next-generation platform uses Nvidia Drive Thor automotive SoCs that delivers up to 2,000 teraflops of compute performance. It allows Nuro to streamline the platform for enhanced scalability and reduced costs. The system integrates an end-to-end AI model to quickly adapt to new driving environments and different vehicle platforms. The Nuro Driver will enable the Lucid Gravity to operate at SAE Level 4 autonomy on the Uber platform, meaning that vehicles can operate with no human intervention or oversight within predefined geofenced areas. According to Nuro, its automated driving system can respond to changing road and traffic control conditions in real-time, ensuring optimal performance in complex urban environments. 'We believe this partnership will demonstrate what's possible when proven AV technology meets real-world scale,' said Zhu, in the release. All of the necessary hardware for automated driving will be preinstalled on the Lucid Gravity SUVs during assembly, while Nuro's software will be activated once the vehicle is commissioned by Uber and deployed on its network, per the release. The first Lucid Gravity robotaxi prototype is currently being tested on a closed circuit at Nuro's Las Vegas proving grounds. In addition to its collaboration with Nuro, Uber is also working with rival Waymo to deploy robotaxis on its ride-hailing platform. Uber announced its multi-year strategic partnership with Waymo in May 2023. Last September, the two companies announced plans to deploy self-driving vehicles on the Uber platform in Austin, Texas, and Atlanta, with additional U.S. cities planned in the future. Waymo also plans to build its own robotaxis for its 'Waymo One' ride-sharing service as part of a similar partnership with Tier 1 supplier Magna International. In May, Waymo and Magna announced plans to convert 2,000 electric Jaguar I-PACE SUVs into robotaxis and add them to Waymo's platform. Recommended Reading Waymo, Magna to jointly build robotaxis at new Arizona factory Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Uber Technologies, Inc. (UBER)'s Deal With Lucid Is 'A Dalliance,' Says Jim Cramer
We recently published . Uber Technologies, Inc. (NYSE:UBER) is one of the stocks Jim Cramer recently discussed. Uber Technologies, Inc. (NYSE:UBER) is the leading player in America's ridesharing market. Its shares have gained 43% year-to-date after having enjoyed sizable catalysts from expanding its presence in the robotaxi and autonomous driving markets. Cramer's comments about Uber Technologies, Inc. (NYSE:UBER) came after the firm announced that it was investing in Lucid Motors: '[When asked what he thought about Uber's investmentI mean I, you know could, when I drove a Lucid, it's absolutely a terrific car. And that's the extent of what you should do with it. Drive it. A close up view of a hand holding a smartphone, using a ride sharing app. Previously, the CNBC TV host discussed Uber Technologies, Inc. (NYSE:UBER)'s fundamentals: 'I think that Uber, we're going to look at the fundamentals, and the fundamentals are excellent. I don't think it's going to be contained by $100. I have great ambitions for Uber in my head and think it'll be up for multiple years, and you should own the stock.' While we acknowledge the potential of UBER as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Automotive
- Yahoo
Uber drivers aren't worried about the company's driverless car plans. Who's going to handle tune-ups?
Uber's driverless car partnership with Lucid and Nuro isn't scaring gig workers. Ride-hailing drivers said that Uber will need to address the technology's limitations and costs. Uber is aiming to have autonomous vehicles in a US city in 2026. Uber drivers are waiting to see the company's future driverless cars successfully dodge potholes before they start looking for new jobs. On Thursday, Uber said it would invest $300 million in electric vehicle maker Lucid as part of a deal to put robotaxis on the roads of a major US city in 2026. Uber is also partnering with startup Nuro on the autonomous driving technology. The deal comes as competitors already have driverless cars on the streets. Waymo is ferrying riders around cities like Phoenix and San Francisco without a human behind the wheel. And Tesla launched its robotaxi service to a small group of users in Austin last month. Drivers who spoke to Business Insider on Thursday said that, despite the deal, the company likely faces big obstacles as it introduces self-driving cars, which should keep their jobs safe for now. One Uber driver in South Carolina told BI that he expects it to take several years before autonomous vehicles become common. "They're still going to use people," the driver said. CEO Dara Khosrowshahi said as much earlier this year. He said that Uber will likely use both human drivers and autonomous vehicles alongside each other over the next decade. On a Reddit forum for Uber drivers, some posters pointed to situations in which they believe the company will likely still need a human at the wheel, such as on bad roads or during inclement weather. "First thought is thank God self driving can't handle snow and potholles yet," one Reddit user wrote in the comments of a post about Uber's partnership with Lucid. Robotaxis could create new headaches for Uber A driver for Lyft and Uber in Texas pointed to another potential issue for the coming robotaxi rollout: Uber would likely need to manage the costs of owning and maintaining cars. Right now, drivers themselves bear many of those expenses, from monthly car lease payments to tune-ups, the Texas driver said. "I can see that's the future, but is that something that they're going to make as much money with as they think?" the driver said. Uber said in Thursday's release that the autonomous vehicles from Lucid "will be owned and operated by Uber or its third-party fleet partners." A company spokesperson declined to provide more details about how Uber will handle the costs of operating autonomous vehicles. The company said it plans to have at least 20,000 driverless vehicles within six years. While Uber will likely invest in the first vehicles, others could step in as its fleet expands, analysts at Bank of America wrote in a note on Thursday. They expect "third-party fleet managers and/or financial partners to own the cars," as the deal "meets financial milestones." Uber will use its autonomous vehicles for ride-hailing trips and not food deliveries, a spokesperson told BI. Last year, Uber said that it would work with another startup, Avride, to test making deliveries in some US cities using small, wheeled robots that can travel on sidewalks. In California, one driver told BI that he plans to make more deliveries for Uber Eats if self-driving cars take over Uber's ride-hailing service in the future. The driver said he divides his time on the app between delivering food through Uber Eats and picking up passengers for rides. His delivery gigs sometimes involve communicating with restaurant workers when the kitchen is running behind on orders or going up an elevator to leave food at a customer's apartment door. "A machine cannot do that," he said. Do you have a story to share about gig work? Contact this reporter at abitter@ or 808-854-4501. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
7 days ago
- Automotive
- Forbes
After Years of Lagging, Can Uber Save Baidu's Stock?
INDIA - 2025/07/03: In this photo illustration, a Baidu logo is seen displayed on a smartphone and ... More in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images) The Chinese search engine giant Baidu's stock (NASDAQ: BIDU) jumped by nearly 9% during trading on Tuesday. This increase comes in the wake of a multi-year collaboration with ride-hailing leader Uber. As part of the arrangement, Baidu will introduce thousands of its Apollo Go autonomous vehicles on Uber's platform in areas outside of China and the United States. Investor interest in autonomous taxis is on the rise, driven by Google's Waymo and Tesla's Robotaxi projects. Baidu's alliance with Uber could position it as a credible player in that global narrative. However, will this initiative be sufficient to inject new energy into the stock, which has been relatively stable over the past year due to ongoing challenges in its primary search operations. Is Ride Hailing a Major Catalyst? The collaboration signifies a crucial advancement in internationalizing Baidu's autonomous driving goals, which have mostly been limited to China until now. Initial launches with Uber are projected for Asia and the Middle East by the end of this year, allowing Uber users the chance to book self-driving taxis. There are also indications of a planned expansion into Europe, as the company continues to seek opportunities beyond China to scale its technology. Baidu's Apollo Go division has begun gaining momentum. In the first quarter of 2025 alone, it provided over 1.4 million rides, marking an approximate 75% increase compared to the previous year. Its fleet now boasts more than 1,000 fully driverless vehicles spread across 15 cities, including major Chinese locations like Shenzhen and Wuhan. Collaborating with Uber could significantly speed up global distribution, accessing a vast market. See How Waymo and Other Bets Can 2x Alphabet Stock What is the scale of the potential opportunity? Uber managed over 230 million rides weekly in Q4 2024, resulting in a $375 billion annual revenue pool solely from human-driven rides. The autonomous sector could be even larger. Robotaxis like Waymo report higher customer retention and significantly fewer accidents compared to the average, and as more users begin to enjoy the benefits of autonomous ride-hailing, demand could soar. If the existing ride-hailing market were to double, a $750 billion market opportunity could certainly be feasible. Naturally, expanding globally will require Baidu to navigate complicated regulatory environments, and the U.S. market—which is likely the largest—will probably remain closed to the company. What Factors Have Detracted from Baidu Stock? Several trends have negatively impacted Baidu stock in recent years. China's post-Covid economic rebound has been less robust than anticipated, resulting in sluggish domestic consumption and diminished advertising revenue in Baidu's core search sector. Furthermore, the emergence of generative AI has introduced uncertainty for traditional search. While Baidu has actively invested in AI technology—launching tools like its Ernie chatbot—monetization remains ambiguous. Generative AI presents limited opportunities for traditional advertisement placements, and user behavior is shifting toward seeking direct answers rather than clicking on search results. Competition in the field is also escalating, with Chinese tech giants like Alibaba and Tencent creating competing models for search, which poses a threat to Baidu's leading position. A Value Investment At around $90 per share, we believe that Baidu appears to be a value investment. The stock trades at approximately 10x projected 2025 earnings, significantly below the nearly 40x multiple it held during the Covid-19 pandemic. Moreover, Baidu had nearly $22 billion in net cash as of Q1 2025—that's approximately 65% of its current market capitalization. See our analysis of Baidu Revenue and Baidu Valuation for further insights on the trajectory of the company's revenues and its valuation in comparison to peers. AI has captured investor focus, and Baidu stock might be a less recognized avenue to engage with that trend. China's escalating prowess in AI is expected to draw more global capital, and Baidu, with significant advancements in areas such as its Ernie Bot and autonomous driving, could emerge as a key player. As one of the few publicly traded entities providing direct exposure to China's AI ecosystem, Baidu may experience heightened interest from investors. Investors thinking about Baidu stock must carefully evaluate the potential risks involved. Now, we leverage a risk assessment framework while assembling the Trefis High Quality (HQ) Portfolio which, comprising a collection of 30 stocks, has a history of comfortably outperforming the S&P 500 over the last four years. What explains this? Collectively, HQ Portfolio stocks have produced superior returns with less risk compared to the benchmark index; creating a smoother investment experience, as demonstrated in HQ Portfolio performance metrics.
