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Investing.com -- Uber Technologies (NYSE:UBER) announced new services on Wednesday, including shared fixed-route rides and extended membership passes. These new offerings aim to cater to customers looking for cost-effective travel solutions. This move is part of Uber’s strategy to invest in more affordable transportation and delivery services, aiming to broaden its user base and counteract the slowing revenue growth in an uncertain economic climate.
The company’s new "Route Share" ride option, which offers pick-ups every 20 minutes along popular commute routes, will cost half as much as Uber’s UberX ride-hail service. Initially, this service will be available in cities like New York, San Francisco, and Chicago, operating during weekday rush hours. Uber is also considering collaborating with employers to incorporate pre-tax commuter benefits.
Additionally, Uber is expanding its ride passes to help customers secure lower fares and maintain predictable costs. These ride passes will be available in major U.S. cities such as Chicago, Dallas, and San Francisco, and are planned to be extended to teen accounts later this year.
Uber first introduced the Price Lock Pass for $2.99 in February, initially available in a few U.S. markets. This feature will now be available across several cities in the United States and is planned to expand throughout the country and Brazil within the year.
The company also disclosed a partnership with Volkswagen (ETR:VOWG_p) to launch a fleet of thousands of the German automaker’s fully electric ID. Buzz AD vehicles as robotaxis next year. These vehicles will also be utilized for shared self-driving taxi rides.
Furthermore, Uber is expanding its partnership with Waymo in Austin, with plans to increase the number of robotaxis to hundreds of vehicles in the coming months.
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