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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

Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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