The Wall Street Journal reported on Thursday that Uber Technologies Inc had achieved an agreement to list all New York City cabs on its app. Passengers will pay nearly the same for taxi rides as they will for Uber X journeys, according to the article.
Uber did not immediately react to a Reuters request for comment, despite the fact that its stock was up 5% before the bell. The move could help Uber alleviate a driver shortage as demand for rideshare rises as people return to work and attend in-person events.
Uber and New York City cabs, who were formerly furious adversaries, have just announced an official collaboration. According to The Wall Street Journal, the ridesharing startup would include all of the city’s cabs on its app, helping to alleviate the city’s driver shortage while also directing business to taxi drivers. The collaboration, which is the first of its kind in the United States, highlights a fundamental shift in Uber’s growth strategy, which now aims to feature “every cab in the world” on its app by 2025, rather than disrupting the industry.
According to The Wall Street Journal, cabs will cost “about the same as Uber Xs.” Meanwhile, taxi drivers will be able to see an estimate of their earnings before accepting a trip.
Uber Technologies, Inc. (Uber) is a mobility-as-a-service company based in the United States. It is headquartered in San Francisco and operates in more than 72 countries and 10,000 cities. Ride-hailing, food delivery, package delivery, couriers, freight transportation, electric bicycle and motorized scooter rental through a relationship with Lime, and ferry transportation through cooperation with local operators are among its offerings.
Uber does not own any vehicles; instead, each booking earns a commission. Fares are stated in advance to the consumer, but they change depending on the local supply and demand at the time of the booking.
