TLCMKT News (10.20.20): Uber CEO Says Prices May Double in Some CA Regions, 24% of NYC Bus & Subway Workers Contracted COVID-19, GM unveils Hummer EV as ‘world’s first supertruck’

Select TLCMKT news headlines for Tuesday, October 20th 2020

Uber's CEO says it will have to double prices in some cities if California voters reject its bid to avoid classifying its drivers as employees (Business Insider)

• With 2 weeks left to the vote on Prop 22, Uber’s CEO warned that prices would have to increase substantially if Prop 22 is rejected.

• CEO Dara Khosrowshahi used an example from Switzerland, where in September a Geneva court ruled couriers were employees, not contractors. This, he said, resulted in 77% of couriers being out of work.

• Recent polling suggest the proposition has a good chance of passing.

  "The vast majority of our cost is actually driver earnings…Prices would go up, we estimate, between 25 and over 100%, depending on what city you are…In larger cities, let's say San Francisco and LA, price increases will be in the 20, 30, 40% range. And in certain smaller cities, price increases would be 70, 80, 100%. Those are the estimates that we have. These are not made up estimates." - Uber CEO Dara Khosrowshahi

  "There is nothing in current state law that would require Uber, Lyft and other gig companies to schedule shifts or limit driver flexibility…These billion-dollar corporations, like every other business in the state of California, are simply being asked to offer drivers basic benefits like sick leave, overtime pay and workers' compensation, which they can do while maintaining driver flexibility." - Gig Workers Rising

• Link to story

24% of New York City's bus and subway workers have contracted COVID-19, and 76% said they personally knew a coworker who died, a new NYU survey finds (NYU)

• An NYU survey found that 24% of NYC’s bus and subway workers contracted COVID-19, which was higher than a previous estimate of 14%.

• 131 MTA workers have died of COVID-19 and the MTA is beginning to pay a $500,000 “COVID Death Benefit” to impacted families.

• The MTA believed the NYU survey was misleading and based on a small sample size of only 645 workers.

• Link to story

GM unveils Hummer EV as ‘world’s first supertruck’ for $112,600 starting in 2021 (CNBC)

• General Motors unveiled the 2022 GMC Hummer EV sport utility truck, or SUT.

• GM says the vehicle will offer the performance of an exotic sports car, including 0 to 60 mph in 3 seconds, as well as off-road capability “that’s second to none.”

• The SUT will also have fast charging of up to 100 miles of range in 10 minutes.

• GM estimates the top-end Hummer will achieve more than 350 miles of range and estimated 1,000 horsepower and 11,500 lb.-ft. of torque.

• Link to story

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The TLCMKT Newsletter is written by Dawood Mian, Founder & CEO of TLCMKT. I cover the NYC ridehailing industry and related news. Search TLCMKT for TLC cars, parts, service, accessories, professional services, reviews & more. Find great deals at TLCMKT.COM.