Lyft promises switch to 100% electric vehicles by 2030 By Reuters

Lyft promises switch to 100% electric vehicles by 2030 By


© Reuters. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles

By Tina Bellon

(Reuters) – Ride-hailing company Lyft Inc (O:) on Wednesday said every vehicle on its ride-hailing and rental car platform will be electric by 2030, but it would not provide direct financial support to drivers for switching from gas-powered cars.

Instead, the company plans to push competitors, lawmakers and automakers to make it easier for drivers to switch to electric vehicles by creating financial incentives, Lyft executives said during a call.

John Zimmer, Lyft’s co-founder and president, said the company has reached a scale to impact policy change.

Lyft, whose vehicle fleet is currently made up of less than 1% electric cars, in a statement said it would aggressively promote and help drivers access incentive funds.

“If policymakers do their part in the next few years, EVs should reach cost parity with gasoline vehicles by mid-decade,” the company said.

Environmental activists have called on Lyft and larger rival Uber Technologies Inc (N:) to electrify their fleets. A February study found ride-hail services create around 50% more carbon emissions than private car trips.

Uber has not made a blanket commitment to electrification, but is partially subsidizing drivers’ electric vehicle purchases in London.

Electric vehicles are currently more expensive than gasoline ones, but the comparable cost of operating and maintaining them over time is lower.

Lyft said the price for ride-hail trips in battery-powered cars might even decline in the future.

In the past, Lyft has said that 80% of its drivers have full or part-time jobs and offer rides to supplement their income.

Many ride-hail drivers also use leasing companies to rent a vehicle and are concerned about the wear and tear to their cars.

Lyft offers rental services for drivers and consumers through its own platform and said it would buy electric vehicles for that fleet, but declined to say how many.

Driver Hub is seen in Los Angeles” alt=”© Reuters. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles” rel=”external-image”>

The company also said it was in active discussions with carmakers on electrification, but declined to provide details.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME