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Ride-hail giant Lyft reported strong second-quarter earnings Thursday. Earlier this year, investors had been skeptical of Lyft’s ability to offset the costs of increased investments to attract and retain drivers. However, Lyft was able to take advantage of severe internal cost-cutting measures combined with a post-COVID boom in travel to help it deliver its highest […]
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The day before Lyft shut down its in-house rental service and laid off close to 60 employees, the team in charge of the program was consumed by what they thought was a much bigger problem. Throughout June, the rentals team had attempted to get the service up and running in New York without success. The […]
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Hyundai said it plans to invest more than $10 billion toward accelerating electrification and autonomous vehicle technology in the U.S. by 2025. Part of that pot includes the $5.5 billion Hyundai has earmarked for its new EV plant and battery manufacturing facility in Georgia announced Friday. Non-affiliated suppliers are contributing another $1 billion into that […]
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