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BofA has a Buy rating on Uber and $93 price target, suggesting upside of over 40%. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram .
But some analysts aren't convinced that Tesla could upend Uber, Lyft, or Waymo. On Thursday, Musk unveiled Tesla's driverless taxi and a 20-seat Robovan at Warner Bros. studio in Burbank, California .
Price Actions: UBER stock is up 0.50% at $66.64 at last check Tuesday. LYFT is up 0.52%. ... This article Uber and Lyft Adapt Robotaxi Strategy to Compete in Tesla and Waymo's Space originally ...
In 2017, Waymo sued Uber for allegedly stealing trade secrets. [29] Waymo began testing minivans without a safety driver on public roads in Chandler, Arizona, in October 2017. [57] In 2017, Waymo unveiled new sensors and chips that are less expensive to manufacture, cameras that improve visibility, and wipers to clear the lidar system. [58]
Uber's design appeared to be almost identical to that of Waymo. [49]: 234 The civil suit between Uber and Waymo was settled in February 2018 with Uber agreeing to pay Waymo 0.34% of its equity, valued at approximately $245 million, and not to use the unit's technology. [44] [50]
However, the prices of some components such as LIDAR have fallen significantly. [22] In January 2021, Waymo stated its costs were approximately $180,000 per vehicle, and its operating cost at $0.30 per mile (~$0.19 per km), well below Uber and Lyft, but this excludes the cost of fleet technicians and customer support. [23]
It may also slow Waymo encroachment into Uber’s market share. An analysis from Bernstein estimated that, as of May 2024, Waymo’s 50,000 weekly paid rides made up approximately 2% of ride ...
Self-driving car pioneer Waymo is teaming up with ride-hailing leader Uber in the Phoenix area to transport passengers and deliver food in robotic cars that triggered a bitter technological ...