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Tuesday Ticker: April 5, 2022

Toronto, Ontario — In this weekly Tuesday Ticker, Uber celebrates ten years in Canada with some key statistics and Hertz plans to add more electric vehicles to its global fleets.

Uber’s uber growth

Uber shared some key Canadian statistics alongside its 10-year anniversary of operating in the nation–including the fact that Uber drivers and delivery people have earned a total of $7.8 billion since 2012.

Uber launched on March 15, 2012, with its food-delivery counterpart UberEats launching in 2015. Since then, the company estimates more than 17 million people have taken trips or ordered deliveries through the application, with more than 500 million trips recorded in the last decade.

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

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

Hertz turns up the heat

Hertz announced Monday that it has reached a new global partnership with Sweden’s Polestar brand to purchase up to 65,000 vehicles over five years.

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

The rental car company, which boasts approximately 8,500 locations worldwide, said it would purchase up to 65,000 vehicles over a five-year span, with initial availability to begin this Spring.

Hertz became the rental entity with the largest EV fleet in North America following the October 2021 announcement that it would be purchasing 100,000 Teslas. The rental company said the Polestar fleet would be available to both business and leisure customers, and also its rideshare drivers to “further accelerate electrification.”

Shares of Hertz rose more than ten percent from Friday’s close following the announcement, closing at 23.37 on Monday.

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