Tuesday Ticker: April 5, 2022

Toronto, ON – In this weekly Tuesday ticker, Uber celebrates ten years in Canada with some key stats and Hertz plans to add more electric vehicles to its global fleets.

Uber’s super growth

Uber shared some key Canadian statistics alongside its 10th anniversary of operating in the country, including the fact that Uber drivers and deliverers have earned a total of $7.8 billion since 2012.

Uber launched on March 15, 2012, and its food delivery counterpart UberEats launched in 2015. Since then, the company estimates that more than 17 million people have taken rides or ordered deliveries through the app, with more than 500 million trips recorded in recent years. decade.

The company also estimated that more than 600,000 people have earned wages through Uber and Uber Eats, 100,000 of whom are currently actively driving and delivering through Uber.

Uber services are now available in more than 140 municipalities across Canada.

Hertz turns up the heat

Hertz announced on Monday that it has entered into a new global partnership with Swedish brand Polestar to purchase up to 65,000 vehicles over five years.

Hertz will now offer the Polestar 2 after integrating Tesla’s Models 3 and 7 into its rental fleet late last year.

The car rental company, which has around 8,500 locations worldwide, said it will purchase up to 65,000 vehicles over a five-year period, with initial availability expected to begin this spring.

Hertz became the rental entity with the largest fleet of electric vehicles in North America after an October 2021 announcement that it would purchase 100,000 Teslas. The rental company said the Polestar fleet would be available to both business and leisure customers, as well as its ride-sharing drivers to “further accelerate electrification”.

Hertz shares rose more than 10% from Friday’s close after the announcement, closing at 11:37 p.m. Monday.