rideshare drivers

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

Senate bill would make gig workers permanently eligible for unemployment

A bill introduced in the U.S. Senate last week would provide up to $250 in weekly unemployment benefits to gig workers.

Sens. Ron Wyden, D-Oregon, and Michael Bennet, D-Colorado, introduced the Unemployment Insurance Modernization Act. The 106-page bill seeks to overhaul current unemployment insurance benefits, allowing them to fluctuate in amount and length during times of high employment, among other changes. It would also codify jobless benefits to workers who quit for certain reasons, such...

https://www.freightwaves.com/news/senate-bill-would-make-gig-workers-permanently-eligible-for-unemployment

Grab to secure $4.5B in new funding from $39.5B SPAC merger

Singapore-based Grab Holdings announced it will go public on the NASDAQ stock exchange through a merger with special purpose acquisition company (SPAC) Altimeter Growth Corp. (NASDAQ: AGC) in a deal that will value the company at approximately $39.5 billion.

AGC was off more than 5% in morning trading following the news. It closed Monday at $13.95.

Grab will net nearly $4.5 billion in funding from the transaction, including private investment in public equity (PIPE) funding of $4 billion....

https://www.freightwaves.com/news/grab-to-secure-45b-in-new-funding-from-395b-spac-merger

Uber hopes to lure back drivers with $250M in incentives

Uber (NYSE: UBER) has announced a $250 million “driver stimulus” boost in an attempt to lure drivers back to the service as pandemic-related restrictions are lifted and riders return.

“Boosted incentives and guarantees will help welcome existing drivers back to Uber and ensure first-time drivers do well as they learn the ropes,” wrote Dennis Cinelli, vice president of U.S. and Canada mobility for Uber, in a blog posting announcing the initiative. “In 2020, many drivers stopped driving because...

https://s29755.pcdn.co/news/uber-hopes-to-lure-back-drivers-with-250m-in-incentives

The fight for drivers’ rights heads to New York Supreme Court

A new suit in New York claims that rideshare companies Via Transportation and its black car-owned Flatiron Transit (collectively Via) have refused to settle disputes with drivers through arbitration and asks the court to either order Via to participate and pay for the arbitration proceeding or assign the suit class action status for the more than 800 members.

The case, Gideon Itenberg v. Via Transportation, was filed March 2 in New York Supreme Court (Case index number: 0651432/2021). Felix Lam...

https://s29755.pcdn.co/news/the-fight-for-drivers-rights-heads-to-new-york-supreme-court

Getting gig workers the unemployment they deserve

Gig workers typically don’t qualify for unemployment, but changes made in COVID-19 relief legislation made that possible in 2020, and it has continued into 2021. However, the nature of gig work and payment processes can make it difficult to prove income and open up the program to fraud.

The Workers Lab and Steady have launched The Workers Lab Design Sprint to help assist those gig workers who qualify for unemployment insurance with the use of the Steady App. 

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https://s29755.pcdn.co/news/getting-gig-workers-the-unemployment-they-deserve

Gig worker rights battle moves to Toronto

The battle for gig worker rights has come to Canada, where the Canadian Union of Postal Workers (CUPW) has launched the Gig Workers United campaign. It is the latest in the global movement to increase wages and improve working conditions for gig workers who rely on app-based companies for employment.

“We have to stand up for ourselves — the streets don’t look out for us, the apps don’t look out for us, so we’re looking out for each other and collectively calling out a bad business model,” Narada...

https://s29755.pcdn.co/news/gig-worker-rights-battle-moves-to-toronto

In first earnings as public company, DoorDash beats revenue forecasts

In its first official earnings announcement since it went public in December, DoorDash (NYSE: DASH) reported new quarterly records for total orders, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and market share. But its quarterly loss more than doubled over Q4 2019.

The food delivery company reported 226% growth in revenue to $970 million in Q4 over 2019’s Q4 results, and 233% growth year-over-year in total orders to $273 million. Its Marketplace gross order...

https://s29755.pcdn.co/news/doordash-releases-q4-earnings

What happened to gig workers in 2020? Gridwise report tells the story

Gig economy drivers took a big hit when the nation shut down because of COVID-19 in early 2020, but many have bounced back, and some have even thrived, according to a report from Gridwise, a rideshare and delivery assistance company.

Ryan Green, co-founder and CEO of Gridwise, told Modern Shipper that the supply of gig drivers is still about 40% below where it needs to be at this point.

“From the supply of drivers as soon as the pandemic came in March, by April we saw a 65% decline in drivers for...

https://www.freightwaves.com/news/what-happened-to-gig-workers-in-2020?-gridwise-report-tells-the-story

Lyft executives confident in rebound

Lyft expects turnaround in Q2

Despite no real improvement in active riders, and a revenue decline year-over-year due in large part to the toll the COVID-19 pandemic has taken on the ridesharing business, analysts responded positively to Lyft’s (NASDAQ: LYFT) earnings results on Tuesday.

Wedbush raised Lyft’s price target to $72 from $53. Cowen analyst John Blackledge also boosted the price to $72.

“Last night LYFT delivered better than expected 4Q results, which were another major step in the right direction on the recovery...

https://www.freightwaves.com/news/lyft-executives-confident-in-rebound

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