Tuesday, June 14, 2016

Automakers Rush to Find Ride-Hailing Service Partners

Automakers, much like sweaty-palmed teenagers, at their first dance are hustling for partners in this growing, uncertain world of ride-hailing before they're left to wrestle with their angst over what might have been.

In the last week, Toyota announced a vague, details-to-come hookup with Uber. Volkswagen infused $300 million into European ride-hailing start-up Gett. BMW's i Ventures provided $5 million of seed capital for Scoop, a ride-sharing  platform operating in the San Francisco Bay area. In January, General Motors invested $500 million for a 9% stake in Lyft.

About 15 million Americans will use a ride-hailing service this year, a figure projected to grow to more than 20 million by 2020, according to eMarketer.com, a research website that studies the sharing economy....

Read the entire article courtesy of USA Today:
(Photo: John Locher, AP)

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