Uber, Lyft drivers switch to Teslas as high gas prices squeeze profit


The Tesla trend also comes at a time when Uber and Lyft Inc are on the hook to show progress toward achieving their goal of switching entirely to EVs in Europe and North America by 2030. — AFP

Some Uber and Lyft drivers are finding that renting or buying a Tesla, the luxury electric car, is a more profitable option now amid soaring gas prices that have upended the economics of gig work.

Last summer, Heidi Barnes, 34, thought about upgrading her beloved 2009 Toyota Camry, which she nicknamed "The Beast,” for a sleek Tesla Inc Model 3 sedan. The Lancaster, California-based driver never imagined that the high-end vehicle would become less of a splurge and more like a last resort until the average price for a gallon of gas in the US surpassed US$4 (RM17) for the first time in March. Almost overnight, a full tank went from costing Barnes roughly US$60 (RM263) to a day to more than US$100 (RM440), making it harder to make a decent profit from ferrying passengers around Los Angeles County. "It was a huge push to get in a Tesla sooner rather than later,” Barnes said.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Apple is trying to sell loyal iPhone users on AI tools. Here's what Apple Intelligence can do
Looking for new activities? Google wants you to turn to its navigation app
Will LinkedIn's AI HR assistant select the right candidates?
Staring at gadgets while in bed? You may get cross-eyed, warn experts
Voting rights groups worry AI models are generating inaccurate and misleading responses in Spanish
Nvidia to take Intel's spot on Dow Jones Industrial Average
U.S. regulators raise questions about siting data centers at power plants
Exclusive-Walt Disney forms business unit to coordinate use of AI, augmented reality
Crypto ETFs see big inflows ahead of U.S. election, traders brace for volatility
Apple to invest up to $1.5 billion in Globalstar for satellite coverage expansion

Others Also Read