NASDAQ: LYFT

No holiday for delivery firms as fuel prices remain elevated

Fuel prices hurting delivery firms

As fuel prices have surged in the U.S., last-mile delivery companies have been put in a precarious position. Some have tried to implement surcharges to cover the added costs, while others already had surcharges in place for this scenario. But with fuel prices doubling in some areas in less than two weeks’ time, even surcharges will take time to recoup some of that increase.

In the last week, Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) have announced surcharges, and DoorDash (NYSE: DASH) has...

https://www.freightwaves.com/news/no-holiday-for-delivery-firms-as-fuel-prices-remain-elevated

Ford to run self-driving cars on Lyft network later this year

Ford, Argo AI to run self-driving cars in Lyft network

Lyft will begin running autonomous vehicles within its rideshare network before the end of 2021 through a partnership with Ford and Argo AI.

The three companies announced an agreement Wednesday morning that will place self-driving ride-hailing vehicles on Miami city streets later this year and on Austin, Texas, roadways in 2022.

“This collaboration marks the first time all the pieces of the autonomous vehicle puzzle have come together this way,” Lyft (NASDAQ: LYFT) co-founder and CEO Logan Green...

https://www.freightwaves.com/news/ford-to-run-self-driving-cars-on-lyft-network-later-this-year

How rideshare drivers can hit financial home runs in a time of need

Last week, residents of New York City were provided a new option for getting around with the launch of Drivers Cooperative, a driver-owned rideshare service.

The company is not the first rideshare service to take on the big two of Lyft (NASDAQ: LYFT) and Uber (NYSE: UBER), and it likely won’t be the last. The Drivers Cooperative promises to take a smaller commission from fares than either Lyft or Uber, offer lower rates for riders and ensure drivers make more money.

In 2019, another rideshare...

https://www.freightwaves.com/news/how-rideshare-drivers-can-hit-financial-home-runs-in-a-time-of-need

Mizuho: Little chance of federal gig worker regulation

While Uber (NYSE: UBER), Lyft (NASDAQ: LYFT), DoorDash (NYSE: DASH) and Grubhub (NYSE: GRUB) have significant exposure to potentially dramatic regulatory changes to the employment classification of the drivers critical to their operations, Mizuho Securities USA is not ready to issue a sell rating on the companies just yet.

In fact, the investment house, part of Japan-based Mizuho Securities, a wholly owned subsidiary of Mizuho Financial Group, believes there is upside to Uber and Dash and little...

https://www.freightwaves.com/news/mizuho-little-chance-of-federal-gig-worker-regulation

Uber nears deal with UK labor union

Uber nears deal with UK labor union

Uber (NYSE: UBER) is reportedly set to recognize the rights of drivers to unionize in the U.K., according to a report, in a similar arrangement to its deal with the Independent Drivers Guild (IDG) in the U.S.

Bloomberg reported the ride-hailing giant is set to recognize GMB, a 620,000-plus labor union that represents drivers, delivery workers and more in the U.K., allowing drivers using the platform to collectively bargain for rights.

GMB was one of the unions that supported the recent U.K....

https://www.freightwaves.com/news/uber-nears-deal-with-uk-labor-union

California to require electric vehicles for most Lyft, Uber drivers

The drive to electrify the nation’s rideshare and on-demand delivery companies took a step forward on Thursday when the California Air Resources Board (CARB) approved a vehicle electrification plan for transportation network companies (TNCs).

The board voted unanimously in favor of the mandate.

Under the Clean Miles Standard, 2% of all TNC trips must be in elective vehicles (EVs) in 2023 and that ramps up to 13% by 2025, 50% by 2027 and 90% by 2030. The rule requires TNCs to submit two-year plans...

https://www.freightwaves.com/news/california-to-require-electric-vehicles-for-most-lyft-uber-drivers

What if there are no gig drivers?

Rideshare companies looking for drivers

“I’m so over hour long waits in the city for Uber eats, because they say they can’t find a delivery driver. Ummm if your whole business model is based on delivery and your demand is exceeding supply, maybe pay your drivers more? Just a hunch.”

That tweet from @thisari88 on Saturday perfectly sums up the frustration that has been percolating through social media accounts in recent weeks as Uber (NYSE: UBER), Lyft (NASDAQ: LYFT), DoorDash (NYSE: DASH) and the rest of the app-based gig companies...

https://www.freightwaves.com/news/what-if-there-are-no-gig-drivers

Lyft’s losses shrink as riders begin returning

Lyft (NASDAQ: LYFT) posted year-over-year declines in Q1 2021 revenues and riders, but an improving trend that started in the second half of last year is continuing.

The company reported revenues grew 7% quarter-over-quarter to $609 million versus $955.7 million in Q1 2020. Net loss was $427.3 million versus a $398.1 million loss in the same period of 2020. Q1 2021’s loss included $180.7 million in stock-based compensation and related payroll tax expenses and $128 million related to changes to...

https://s29755.pcdn.co/news/lyfts-losses-shrink-as-riders-begin-returning

Toyota subsidiary to acquire Lyft’s self-driving vehicle division

Woven Planet Holdings has agreed to acquire Level 5, the self-driving vehicle division of Lyft (NASDAQ: LYFT). Woven will pay $550 million in total cash for the division, founded in 2016 at Open Platform. The sale price includes $200 million in upfront cash and $350 million in additional cash payments over five years.

The acquisition is subject to regulatory approvals and customary closing conditions. It is expected to close in Q3 2021.

Woven Planet Holdings is a subsidiary of Toyota Motor Corp.

“T...

https://www.freightwaves.com/news/toyota-subsidiary-to-acquire-lyfts-self-driving-vehicle-division