One of the mysteries surrounding Uber is the question of why the company has not yet filed to go public. The app's revenues are known to be growing aggressively as it launches services in new countries and new cities. But, repeatedly, leaks of Uber's financial data have shown the company carrying huge losses. Uber has taken $12 billion over 15 rounds of investment, and has a reported valuation of nearly $70 billion. If it were to float its stock in an IPO, it would need to ra
Peugeot finally returns to America in April... as a car-sharing service PSA takes a low-key approach to its US return by investing in TravelCar. Peugeot-Citroen parent PSA Group hasn't officially operated in the US in more than two decades, so let's just say its reentry to the States appears to be a fairly innocuous one. PSA said that it has partnered with France-based insurance company MAIF to invest about $16 million in car-sharing service TravelCar. The car-sharing service
In just a few years, the ridesharing companies Uber and Lyft have become important and cost-saving additions to Americans’ transportation options. Predictions that Uber would become a monopoly have been proven wrong as its main rival Lyft continues growing at an impressive pace. The latest data show that Lyft completed 19 million rides in January in the United States. Furthermore, Lyft drivers received $1.5 billion in earnings last year. These earnings would have been higher
German automaker Audi is teaming up with Indian self-drive car rental company Zoomcar to rethink urban mobility. Consumers will now be able to book an Audi Q3 through Zoomcar’s mobile application and Web site, which offers hourly, daily, weekly and monthly reservations. As consumers increasingly turn to alternatives to car ownership, automakers are finding new ways to remain part of consumers’ lives. Mobility minded
Founded in 2013, Zoomcar currently has more than 3,000 vehi
Google is expanding its presence in the ride-sharing market. The tech giant is expanding the service to its Waze navigation app in "several" cities across the United States and in Latin America over the next few months, the Wall Street Journal reports. The decision to enter the market came after a successful trail run in Israel and San Francisco. The move makes Google a competitor for Uber — a company it was once allies with, notes the Journal (in 2013, Google invested some $
(Bloomberg) -- BMW AG will use chips and cameras made by Mobileye NV to collect mapping data for autonomous driving in its vehicles starting in 2018, the two companies said in a statement. The German carmaker will also allow data to be merged with information collected from competitors’ fleets to speed the development of high-definition maps that are critical to enable autonomous driving. The announcement comes a week after Mobileye said it signed a similar accord with Volksw
Owning a car, while still attractive for many reasons, may not be nearly as much fun as it once was — especially in densely populated urban corridors. “For most of the population in large cities, it doesn’t make sense to own a car,” said Sam Abuelsamid, a senior research analyst at Navigant Research. “In Manhattan, for instance, you have the option of the subway, taxis or rental cars, and now there’s even greater flexibility with ride-hailing, car-sharing, city bikes and more
Cars have been at the heart of American culture for more than a century. Until recently, getting a license and buying a car were considered rites of passage, and the car you chose was widely regarded as an expression of your identity, reflecting your priorities and revealing your status. All that is now changing. The advent of car sharing, ride-hailing and self-driving vehicles presages a radical transformation in consumer behavior. The future of personal transportation will
Hyundai Motor Co., South Korea’s largest automaker, will start to offer a car-sharing service with only electric vehicles (EV) in April in hopes that the new service would boost EV use in the country.
Hyundai Motor and Hyundai Capital Services Inc., the auto financing arm of Hyundai Motor Group, have recently signed a memorandum of understanding (MOU) to collaborate to launch an electric vehicle (EV) car-sharing program, according to the two companies on Tuesday.
Car-sharing services provided by companies such as Gofun Chuxing launched by Beijing Shouqi Group and Car2go under the automotive giant Daimler AG, are gaining popularity among young people in mega cities such as Beijing and Shanghai. Beijing News commented on Monday: The sharing cars, mostly electric vehicles, are ready for use after the registration process has been completed, which takes just a few minutes, and they cost even less than taking a cab. Take for example Gofun,