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Uber lost $1.27 billion in the first half of 2016, with much of that coming from incentivizing drivers, unidentified sources told Bloomberg. On Friday of last week, Uber’s head of finance, Guatam Gupta, gave a financial report during a conference call. While not a public company, ride-hailing and ridesharing giant Uber has been holding financial […]

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General Motors invested $500 million last January for a nine-percent stake of ride-sharing company Lyft, and apparently wanted to own all of it. The Detroit Free Press is reporting that the automaker approached Lyft in “recent weeks” about a potential acquisition that was declined. Citing a post from technology website The Information, the report said […]

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General Motors will offer its first autonomous EV through its affiliated ride-sharing partner, Lyft, and things are coming together on an accelerated pace. In January this year, GM announced it invested $500 million in Lyft and it has made Pam Fletcher, its former executive chief engineer for electric vehicles, its new executive chief engineer of […]

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General Motors’ new carsharing service Maven is stepping forward with vehicles being rented in Ann Arbor, Mich., and Chicago. Ann Arbor has more than 1,300 approved users and GM quietly launched a few weeks ago in Chicago. Maven will be rolled out to additional major U.S. metro areas this year as GM reaches out to […]

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General Motors along with its new partner Lyft plan to test a fleet of self-driving Chevrolet Bolt taxis on public roads within one year. The service will be tested with real customers, who can choose to opt in or out of the pilot program when hailing a car using the Lyft app. Other details are […]

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General Motors has invested $500 million into ride-sharing company Lyft as it looks to the future of transportation. Besides straight financial backing, GM has pledged to work with Lyft to develop a network of autonomous vehicles that would be available to paying customers on demand. “We strongly believe that autonomous vehicle go-to-market strategy is through […]

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Enterprise Holdings is acquiring the business of Zimride, an online service that connects drivers, passengers and partners with colleges and universities to facilitate sustainable transportation-management solutions. Zimride is the largest ride-matching program in the United States with more than 350,000 users. Enterprise Holdings said the acquisition closed July 10 and that financial terms of the […]

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