INTC - Did Tesla Hertz and Uber just jumpstart the trillion dollar robotaxi industry?
The rideshare industry continues to make its slow crawl back to pre-pandemic levels with spending down 31.1% relative to 2019 levels for the week ending October 17th, according to data from research and analytics firm M Science. Uber held 71.8% of the total market for the week, while Lyft's (NASDAQ:LYFT) market share fell to 26.9%. The chart below provided by M Science shows the improvement trend. M Science's take is that the sequential improvement in the gap between 2021 vs. 2019 is likely an indication of some improvement in the supply/demand imbalance between drivers and riders. However, even if ridesharing is not yet back to normal, the industry is not stalling out. The sector was jolted during the week by an announcement between Hertz Global (OTCPK:HTZZ) and Uber (NYSE:UBER) on accelerating the adoption of EVs through a new exclusive partnership to make up to 50K Teslas available by 2023 for
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Did Tesla, Hertz and Uber just jumpstart the trillion dollar robotaxi industry?