Latest News Updates From Natalie Lung

Lyft will launch driverless rides with technology vendor and Intel spinoff Mobileye Global in Dallas as soon as 2026, building on a partnership that was first announced last November.

Price-guarantee plans represent a potential new source of revenue for Uber, which said recently that a slowdown in U.S. rideshare bookings has been weighing on its core mobility unit.

The city’s plan threatens to further weigh on demand for ridesharing in a key market for Uber and Lyft, which are both warning that costs will be passed through to consumers.

Lyft announced three new partnerships with autonomous driving technology vendors, including Intel spinoff Mobileye, as it plays catch-up in offering driverless rides on its platform.

The company wants the city’s Taxi and Limousine Commission, which sets minimum driver pay, to reduce the per-mile rate in its driver pay formula by 6.1% to $1.277 from the current $1.360.

Uber Technologies reported weaker-than-expected ride bookings and issued a middling forecast for the holiday quarter, even as it delivered record operating profit. 

Uber Technologies will be the sole supplier of driverless rides on Alphabet’s Waymo cars in Austin and Atlanta, a boost to the rideshare app’s ambitions in the autonomous vehicle arena.

Uber Technologies is making a strategic investment in U.K.-based autonomous driving software provider Wayve Technologies.

Uber Technologies Inc. reported better-than-expected orders in the second quarter, underscoring the continued strength in demand for rideshare and delivery services.

Revel Transit, the New York-based electric vehicle ride-hailing startup, plans to lay off its driver employees and operate a gig-work model more akin to rivals Uber and Lyft.