Lyft, one of the largest ridesharing companies, announced this morning that they will now be placing a heavy focus on sustainability. While Uber has been embroiled in scandal and undergoing an executive overhaul, Lyft, its primary competitor, has been focusing in on sustainability. The company is committing to providing electric vehicles to users and lowering its emissions over the next 8 years.
“The heart of our transportation problem is that personally-owned vehicles are underutilized,” Lyft said in a post about its climate impact goals.
To combat this problem, the ridesharing company has laid out the following eco-friendly steps:
- All electric autonomous vehicles operating on the Lyft platform will be powered by 100% renewable energy. This will be true from Day 1, starting with the nuTonomy autonomous vehicles in Boston later this year.
- By 2025, Lyft’s shared platform will provide at least 1 billion rides per year using electric autonomous vehicles.
- Lyft’s efforts will reduce CO2 emissions for the U.S. transportation sector as a whole by at least 5 million tons per year by 2025.
The post also revealed that environmentalist Paul Hawken, an author and the executive director of Project Drawdown, will be brought on as an adviser specializing in climate action strategy. Lyft is still quite far behind Uber, in March TXN Solutions, a research firm on consumer spending, stated that Lyft has roughly 21% of market share, while Uber holds approximately 75% of the market. Lyft has been focusing on partnerships and has a hefty list of automotive partners, including General Motors. Lyft has raised over $2.6b and is valued at over $6.9b.
“We believe that ridesharing, combined with autonomous vehicles, will be the driving force that brings electric vehicles from a tiny portion (~0.1%) of all cars on the road today to a significant majority within 20 years,” the company said.
Will you be using Lyft more than Uber now that the company is committed to renewable energy?