Archive for the ‘Uber’ Category

Uber’s Estimated Valuation in IPO Pegged at $120 Billion

Lyft is looking to doing an offering as well next spring.

by on Oct.18, 2018

Uber CEO Dara Khosrowshahi has been making substantive changes to the company since his arrival.

Uber could raise as much as much as $120 billion, dwarfing the market capitalization of General Motors, Ford and Fiat Chrysler, when it launches an initial public offering next summer, according to a report in the Wall Street Journal.

Uber is already in discussions with bankers about an initial public offering in early 2019, the Journal reported. At the same time, Uber’s principal Lyft raised $15 billion during a round of fund raising and has indicated it is preparing go public next spring, raising the prospect the two ride-sharing companies could collide in the race for cash.

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Uber’s potential valuation could be greater than the combined current valuation of the U.S. automakers, the Journal reported. The comparison has been the subject of some fierce debate with some critics suggesting that for “game changing” technology companies like Uber it is not a relevant. (more…)

Flying Cars Zooming Toward Takeoff

Pal-V, Terrafugia, Uber, Google all readying flying autos.

by on Oct.02, 2018

A convoy of Pal-V Liberty flying cars makes their way through the countryside.

A Dutch company called Pal-V said it had started taking orders for its Liberty model, a three-wheeled car which sprouts a tail-plane, a propeller and helicopter-like rotor blades when the driver wants to fly.

Before it takes off, the wings and propellers are folded up, against the bodywork so it can maneuver on city streets.

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The Times of London, in its report on the Liberty, noted that entrepreneurs have long promised that flying cars are hovering just around the corner. (more…)

Toyota Investing $500 Mil in Uber, Will Aid in Autonomous Vehicle Efforts

Move could help ride-sharing service in anticipated IPO plan.

by on Aug.28, 2018

Dara Khosrowshahi, Uber’s CEO and Toyota EVP Shigeki Tomoyama shake over their new alliance.

Toyota confirmed  reports it will invest $500 million in Uber and partner with the nation’s largest ride-sharing service on the development of the autonomous and fully driverless vehicles Uber believes will slash its costs and make it a viable alternative to personal vehicle ownership.

The announcement comes barely a week after Uber wrapped up its search for a new chief financial officer, something that, along with the new Toyota alliance, could help move closer to a widely anticipated IPO. The Japanese maker’s investment puts a value of $72 million on Uber.

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“This agreement and investment marks an important milestone in our transformation to a mobility company,” said Shigeki Tomoyama, executive vice president, TMC, and president, Toyota Connected Company. “Combining efforts with Uber, one of the predominant global ride-sharing and automated driving R&D companies, could further advance future mobility.”

(more…)

Kroger Launches Driverless Delivery Pilot in Scottsdale

Debut echoes Waymo/Walmart partnership.

by on Aug.16, 2018

The Kroger project won't completely solve the "last mile" challenge. Customers still will have to go out and grab their bags from the delivery vehicle.

While it may take some time before you can hail a driverless ride-sharing vehicle, you may soon be able to have your groceries delivered autonomously – at least if you live in certain parts of greater Phoenix.

Kroger has teamed up with Nuro, a self-driving tech firm to launch a trial grocery delivery program in one part of the Southwest community, and could roll it out to other parts of the country if it proves successful. The move comes shortly after rival Walmart announced a similar pilot program pairing it with Google’s autonomous vehicle spin-off Waymo.

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“Kroger wants to bring more customers the convenience of affordable grocery delivery,” Kroger Chief Digital Officer Yael Cosset said in a statement.

(more…)

Rental Car Business Being Squeezed by Ride Sharing

Autonomous vehicles present major change in prices.

by on Jul.31, 2018

Fully driverless vehicles, like the ones Ford plans to build for Lyft, may be the death knelll for some rental car companies.

The rental-car business faces a growing threat to its future from ride-sharing companies, according to a new survey from AlixPartners.

“Results from our survey suggest that the $30-billion U.S. car-rental industry is already undergoing a tectonic shift, with boundaries not just blurring but being obliterated between car-rental and ride-hailing and other forms of new mobility,” said Arun Kumar, a director in the Automotive and Industrial Practice at AlixPartners and a co-author of a new report focusing on the rental-car business.

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“The companies that survive this shift will be those that act now to transform themselves to be relevant in a world which seems to much prefer simply clicking on an app than standing in line at the rental counter,” Kumar said. (more…)

Uber Shuts Down Otto Autonomous Truck Division

Ride-sharing service puts emphasis on self-driving cars.

by on Jul.31, 2018

An autonomous Otto truck like the one that hauled 45,000 cans of beer across Colorado last year.

Just a week after it restarted its autonomous passenger car program, Uber has shuttered Otto, the division that was charged with developing self-driving trucks.

The ride-sharing company says it wants to concentrate on developing the driverless cars and SUVs that could eventually lower the cost of using its services. But the decision to shelf Otto comes as Uber struggles with a series of setbacks, including not only the death of a pedestrian hit by one of its self-driving prototypes but also a legal battle with Google spinoff Waymo that saw a key employee accused of stealing critical intellectual property.

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“We recently took the important step of returning to public roads in Pittsburgh,” Eric Meyhofer, head of Uber Advanced Technologies Group, said in a statement referencing the company’s decision to restart its self-driving program after the fatal crash near Phoenix back in March. “As we look to continue that momentum, we believe having our entire team’s energy and expertise focused on (the passenger car) effort is the best path forward.” (more…)

Uber Ready to Resume Autonomous Testing in Pittsburgh

Company reviewed, revised protocols, including adding 2nd driver.

by on Jul.27, 2018

Uber is ready to resume testing its autonomous vehicles in Pittsburgh, but several changes have been instituted to ensure improved safety.

Uber is reviving its self-driving vehicle test program in Pittsburgh, after a nearly four-month hiatus implemented in the wake of the pedestrian death in Arizona.

Company officials said there are and will be significant changes to the program to help avoid another fatality or other issues. First, there will be two employees in every vehicle. The “mission specialists” will occupy the two front seats.

The Last Word!

Additionally, the vehicles will be driven by a person instead of by the machine. This is to help the system “learn” more about a variety of situations drivers may encounter ranging from the everyday to once-in-a-lifetime. The second “specialist’s” role it to document anything out of the ordinary. No word on when the vehicles will drive themselves again. (more…)

Mercedes, Bosch Team to Launch Self-Driving Car Service

Set to debut in late 2019 in Silicon Valley.

by on Jul.11, 2018

Initially, Daimler will use the Mercedes-Benz S-Class sedan for the pilot ride-sharing project.

Mercedes-Benz is teaming up with German mega-supplier Bosch to launch a new ride-sharing service in Silicon Valley next year that will rely on self-driving vehicles.

The project marks the latest entry into the fast-expanding field that, by some estimates, could eventually account for as much as a quarter or more of the miles Americans travel by automobile. Other planning to launch ride-sharing services using self-driving vehicles include General Motors, Google spin-off Waymo and Uber, the country’s largest ride-sharing service.

Making Sense of the Brave New World!

While Mercedes’ parent Daimler AG is referring to the vehicles it will use as “automated shuttle(s),” customers will be able to ride in style. When the project initially gets underway during the second half of 2019, it will rely on modified versions of the luxurious S-Class Sedan. Eventually, the goal is to switch to a production version of the edgy Mercedes concept vehicle, the F 015.

(more…)

Uber Gets Reprieve in London

Court gives ride-hailing service a 15-month pass.

by on Jun.27, 2018

Uber has been given a 15-month reprieve in London by a British court.

Uber has been granted a 15-month probationary license by a British court on Tuesday, which will allow it to continue operating in London.

The ride-hailing service argued successfully that Uber had made significant changes to its business and corporate culture after Transport for London, the city’s regulatory body for public transportation, declared Uber unfit to serve the city. The agency said Uber had failed to vet its drivers, who had been involved in a series of sexual assaults.

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Uber’s “approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications,” Transport London said in its decision. (more…)

Uber Fatality Now Deemed “Entirely Avoidable”

Safety driver was watching television right before crash.

by on Jun.22, 2018

The Tempe (Arizona) Police Department released the video footage of Uber's collision with a pedestrian.

After initially faulting the pedestrian killed in a crash with an autonomous Uber car in March, the Tempe (Arizona) Police Department is calling the collision “entirely avoidable” after determining the safety driver was streaming Hulu on her phone while behind the wheel.

According to the department’s 318-page report, the driver, Rafaela Vasquez, was watching a television show on her phone for 5.3 seconds prior to looking up and seeing 49-year-old Elaine Herzberg crossing the road in front of her.

The Last Word!

Vasquez applied the brakes just 0.5 seconds before the collision. The report says that Vasquez could be charged with vehicular manslaughter. She was watching the television show “The Voice” for 42 minutes with it ending at 9:59 p.m., which is about the time that Herzberg was struck. (more…)

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