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Uber & Arrival plan to launch electric vehicles for ridesharing

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U.K. startup ‘Arrival’ is preparing to build electric buses and delivery vans with Uber

Arrival is parterning with Uber to build the ‘Arrival Car’ – a low-cost electric vehicle for ride-sharing.

Arrival and Uber said in a joint statement the Arrival Car will be an “affordable, purpose-built electric vehicle for ride-hailing,” with production set to begin in 2023.

Uber plans to go electric

Uber plans on offering rides exclusively with electronic vehicles in London by 2025.

The company also plans to sign up 20,000 more drivers in Britain. This comes as the lifting of COVID-19 restrictions boosts demand.

The company has raised more than $188 million to help its drivers in London upgrade to an electric vehicle.

“Our focus is now on encouraging drivers to upgrade to an electric vehicle, and our partnership with Arrival will help us achieve this goal.”  

Jamie Heywood, Uber regional manager for northern and eastern Europe

Uber and Arrival say the car will prioritise “driver comfort, safety and convenience, while ensuring the passengers enjoy a premium experience.”

Arrival: the electrical vehicle startup founded by Russian billionaire

Arrival is a UK-based electric vehicle startup founded by Russian billionaire Denis Sverdlov.

Most EV companies like Tesla invest hundreds of millions of dollars to build new factories. However, Arrival plans to subvert this practice by using local factories and existing warehouses.

Arrival will use the money saved in this way to offer low-cost EVs. The company has three factories under development – one in the UK and another two in the US.

Arrival car by Uber

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Money

Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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