Yoyo believes, like other mobility disruptors, that the traditional automobile acquisition and ownership experience is broken. It maintains that the majority of consumers can be provided with more flexible, efficient, lower-cost alternatives to the incumbent model of personal mobility. However, the prevailing two-step distribution system is entrenched and the insurance, maintenance, parking, and other segments of the $2 trillion extended auto industry are not incentivized to embrace change.
Will Yoyo’s pay-per-mile subscription model participate in disrupting the calcified status quo? (Read More…)
Not wanting to be left out of the mobility party, Toyota and Volkswagen recently invested in two ride-sharing companies, becoming the latest automakers to sink cash into the sharing economy.
Toyota invested a rumored $100 million in the ubiquitous ride-sharing company Uber, while Volkswagen, which has to meter out its dough carefully (thanks to a pesky little scandal), dropped $300 million on Uber’s taxi-hailing rival Gett. (Read More…)
Your vehicle’s technology is enslaving you, and Toyota wants to help you break free.
Today, Toyota has become the latest automaker to create a subsidiary tasked with generating new technology and innovation for its parent company.
Called Toyota Connected Inc., the venture is a collaboration with Microsoft that will serve as a data science and mobile technology hob for the world’s largest automaker. The plan is to use Microsoft’s Azure cloud technology to “humanize” the driving experience and make vehicles’ high-tech abilities less intrusive and more useful. (Read More…)
Uber wants to eliminate drivers from its operation, but the ride-hailing service reportedly just purchased an armada’s worth of Mercedes-Benz S-Class sedans that don’t yet have fully autonomous capability.
On Friday, Reuters reported that sources at both companies told the German publication Manager Magazin that an order had been made by Uber for “at least” 100,000 S-Class vehicles.
The shelf price for that volume of Benz’s would be in the neighbourhood of $10 billion. (Read More…)
If you’re looking to drive for the ride-sharing service Lyft in Chicago, General Motors wants to get you into a new Chevrolet Equinox.
Under its Express Drive program, Lyft drivers whose own cars don’t meet the company’s standards can finance an Equinox at a declining rate — starting at a maximum of $99/week — with insurance and maintenance included. (Read More…)
In the auto industry, as in so many other areas, Africa is something of a forgotten continent. Without the new roads and emerging middle class of a China, the most underdeveloped part of the developing world tends to fly under the radar: for example, until I read a Financial Times piece on an airplane, I had no idea that South Africa’s auto industry was booming. And now, here’s another story that isn’t getting much play in the mainstream of the auto world: Mobius, a Mombasa, Kenya-based firm has built a prototype vehicle that it hopes will be the Model T of Africa, providing robust, low-cost transportation to a continent that is not taken seriously as a market by the global car business. (Read More…)