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ESTERO, Fla. and SAN FRANCISCO, — Hertz and Uber (NYSE: UBER) today are accelerating the adoption of electric vehicles (EVs) in the U.S. through a new exclusive partnership to make up to 50,000 Teslas available by 2023 for drivers to rent when using the Uber network.

This partnership is the largest expansion of electric vehicles on a mobility platform in North America and one of the largest globally, marking another step toward Uber’s zero-emissions goal. Starting Nov. 1, drivers can rent Teslas from Hertz through this program in Los Angeles, San Francisco, San Diego and Washington, D.C. – with a nationwide expansion planned in the coming weeks.

Uber-Logo
For Hertz, the partnership is part of its commitment to lead the future of travel, mobility and the auto industry. This includes Hertz leading in electrification, shared mobility and a digital-first customer experience. On Monday, Hertz announced its most significant investment to offer the largest EV rental fleet in North America and one of the largest in the world. This includes an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across Hertz’s global operations.

“Today’s partnership with Uber is another major step forward in Hertz becoming an essential component of the modern mobility ecosystem and executing on our commitment to being an environmentally forward company,” said Mark Fields, Hertz interim CEO. “We are creating the new Hertz and charting a dynamic, new course for the future of travel, mobility and the auto industry.”

“Climate change is an urgent global challenge we must all tackle together, and now is the time to drive a green recovery from the pandemic,” said Uber CEO Dara Khosrowshahi. “This combines the power of Tesla, Hertz and Uber to help accelerate the transition to zero-emissions mobility. We look forward to seeing more EVs on the road right away.”

For drivers looking to rent a Tesla, this is the best deal available in the market today. It offers drivers gas savings, higher earnings potential, access to the Tesla Supercharger network and Uber’s exclusive EVgo discounts, and other financial benefits through Uber’s Green Future program, which provides incentives – such as $1 more per trip up to $4,000 annually – for drivers to transition from gas-powered vehicles to EVs.

Globally, consumer interest in electric vehicles is skyrocketing because of environmental concern, convenience and reduced operating costs. Access to carpool lanes for solo-occupant vehicles – for both personal and ride-sharing vehicles – also is a major motivator.

Drivers are becoming increasingly interested in EVs. A recent survey of more than 6,000 internal combustion engine (ICE) drivers using the Uber app showed that 47 percent are interested in a battery EV as their next car.

Uber and Hertz have partnered since 2016 to provide drivers with vehicle rental options. With this partnership, Hertz will kick off the program by providing up to 50,000 vehicles by 2023 exclusively to drivers. If successful, the program could expand to 150,000 Teslas during the next three years. Hertz pointed out that these ambitions could be affected by factors outside of its control, such as semiconductor chip shortages or other constraints.

Participating drivers receive a preferred weekly rate for Hertz rentals, which includes insurance, basic maintenance and unlimited miles. The Hertz-Uber offering can also make it easier for drivers to source a vehicle, by eliminating the long-term commitments that buying or leasing a car often require.

Hertz has been an electric vehicle pioneer during the past decade. It was the first U.S. car rental company to introduce EVs to its rental fleet in 2011 and the first to implement a wireless charging system for electric vehicles. The company also is the exclusive rental car member of the Corporate Electric Vehicle Alliance, a consortium of companies focused on accelerating the transition to electric vehicles.

About Hertz
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

About Uber
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 25 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

ESTERO, Fla., Oct. 25, 2021 — As consumer interest in electric vehicles (EV) skyrockets, Hertz today is announcing a significant investment to offer the largest EV rental fleet in North America and one of the largest in the world. This includes an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across the company’s global operations.

In addition, Hertz is teaming up with seven-time Super Bowl champion and entrepreneur Tom Brady to showcase how it is making EV rentals fast, seamless and more accessible, as the company accelerates its commitment to lead the future of mobility and travel.

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” said Hertz interim CEO Mark Fields. “The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world.”

Today, 40 percent of U.S. consumers say they are likely to consider an electric vehicle the next time they are in the market for a new vehicle, according to Pew. Global EV sales skyrocketed 200 percent in the last year and will likely continue to grow with commitments from global automakers to increase EV sales. For example, in August, three U.S. automakers pledged to boost EV sales to 40-50 percent by 2030.

The growth is powered by electric vehicles’ high efficiency, positive user experience and climate change benefits – coupled with battery breakthroughs and rapidly expanding charging networks. EV drivers also benefit from lower maintenance and fuel costs.

Beginning in early November and expanding through year end, customers will be able to rent a Tesla Model 3 at Hertz airport and neighborhood locations in U.S. major markets and select cities in Europe. To learn more, visit hertz.com/ev.

Hertz also is installing thousands of chargers throughout its location network. Customers who rent a Tesla Model 3 will have access to 3,000 Tesla supercharging stations throughout the U.S. and Europe.

Hertz will offer a premium and differentiated rental experience for the Tesla EVs. This includes digitized guidance to educate customers about the electric vehicle to get them on their way quickly, and coming soon, an expedited EV rental booking process through the Hertz mobile app.

With the current order, EVs will comprise more than 20 percent of Hertz global fleet and is expected to be supported by a combination of Level 2 and DC fast charging in approximately 65 markets by the end of 2022 and more than 100 markets by the end of 2023. Hertz said these ambitions could be affected by factors outside of Hertz’s control, such as semiconductor chip shortages or other constraints.

“Hertz, Let’s Go!” with Tom Brady

To spread the word about its leadership on EV rentals, Hertz is partnering with seven-time Super Bowl champion Tom Brady for a new “Hertz, Let’s Go!” campaign.

Two new ads – “Plugged In” and “Speed” – beginning today show Brady renting, recharging and using an EV at a Hertz airport location. The spots use humor and Brady’s signature “Let’s Go” game-day rallying cry to underscore Hertz’s reputation for excellence, speed and ease throughout the travel experience.

“Hertz is changing the game when it comes to the future of mobility and has come through for me time and time again,” said Tom Brady. “Although the company has been around for over 100 years, their constant evolution, especially now, is something that is amazing to be a part of. I’ve been driving an EV for years and knowing Hertz is leading the way with their electric fleet speaks to how the world is changing and the way companies are approaching being environmentally and socially conscious. I’ve always loved how easy and convenient Hertz makes it for me when I’m traveling to my favorite places like New York, LA and Tampa and can’t wait to see what they continue to have in store.”

The New Hertz
Hertz is combining its brand strength and global fleet management expertise with new technology and innovations to chart a dynamic, new course for travel, mobility and the auto industry. The company’s commitment to becoming an essential component of the modern mobility ecosystem includes Hertz leading in electrification, shared mobility and a digital-first customer experience.

Today’s investment in electric vehicles builds on Hertz’s pioneering work in its rental operations during the past decade. Hertz was the first U.S. car rental company to introduce EVs to its rental fleet in 2011 and the first to implement a wireless charging system for electric vehicles. The company also is the exclusive rental car member of the Corporate Electric Vehicle Alliance, a consortium of companies focused on accelerating the transition to electric vehicles.

About Hertz
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc., operates the Hertz, Dollar and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand. The Hertz Corporation is one of the largest worldwide vehicle rental companies, and the Hertz brand is one of the most recognized globally. Additionally, The Hertz Corporation operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets and sells vehicles through Hertz Car Sales. For more information about The Hertz Corporation, visit www.hertz.com.

SAN DIEGO and CINCINNATI, Oct. 19, 2021 /PRNewswire/ — Netradyne, a leader in artificial intelligence (AI) and edge computing focusing on driver and fleet safety, and First Student, the leading school transportation provider in North America, today announced a partnership to help create safer roads and transportation for students. Through this relationship, First Student will initially deploy Driveri® vision-based driver recognition devices at selected locations, with plans to evaluate future expansion.

Driveri will be implemented as part of First Student’s DriverScore™ program. This initiative measures a driver’s performance to help improve the quality and safety of transportation service for school districts and their families.

Driveri is the most advanced vision-based driver recognition and fleet safety solution, built to reinforce positive driving behavior and pinpoint coaching and improvement opportunities. In working with Netradyne, First Student will help champion its drivers to remain the safest operators on the road. In addition, there also is the ability for Netradyne’s technology to interface with the Seon, First Student’s onboard bus camera system.

Through Driveri, actionable information will be put into the hands of location leadership. Managers will have a complete understanding of a driver’s performance, including key performance indicators and a “Green Zone” which indicates when the driver is following training and driving safely. First Student drivers will receive feedback about their performance, including positive recognition and rewards.

“At First Student, we believe our drivers are our best safety feature, and we invest heavily in their training and development,” said First Student Chief Operating Officer Dean Suhre. “By partnering with Netradyne, we further demonstrate our commitment to providing the safest ride to and from school. We look forward to using this cutting-edge technology to elevate our DriverScore program and safety culture by helping our drivers sharpen their skills behind the wheel while also recognizing safe driving behavior.”

“Our partnership with First Student aligns with our core mission of creating safer roads for all,” said Adam Kahn, President, Fleet Business and Certified Transportation Professional (CTP®), Netradyne. “While school buses are often regarded as the best option for transporting students to school, Netradyne’s technology can play a massive role in making the ride even safer. Our advanced vision technology can help drivers mitigate risks and create a safety-driven environment–immediately upon deployment.”

About Netradyne, Inc.
Netradyne harnesses the power of Computer Vision and Edge Computing to revolutionize the modern-day transportation ecosystem. Netradyne is an industry leader in fleet safety solutions, immediately improving driver behavior and fleet performance, setting the commercial vehicle driving standards. Netradyne collects and analyzes more data points and meaningful information than any other fleet safety organization so customers can improve retention, increase profitability, enhance safety, and enable end-to-end transparency. Organizations trust Netradyne to build a positive, safe, and driver-focused culture, so they can take their business to the next level.

About First Student
As the leading school transportation solutions provider in North America, First Student strives to provide the best start and finish to every school day. First Student completes five million student journeys each day, moving more passengers than all U.S. airlines combined. With a team of highly-trained drivers and the industry’s strongest safety record, First Student delivers reliable, quality services including full-service transportation and management, special-needs transportation, route optimization and scheduling, maintenance, and charter services with a fleet of about 40,000 buses. For more information, please visit firststudentinc.com

Media Contact:
Sara Long
sara.long@sparkpr.com

SOURCE Netradyne

Related Links
http://netradyne.com

WASHINGTON, Oct. 1, 2021 /PRNewswire/ — In a major rebuke to the board, more than 62 percent of FedEx Corp. (NYSE:FDX) shares voted in favor of a shareholder resolution filed by the Teamsters and As You Sow, a shareholder advocacy group, demanding greater transparency of FedEx’s lobbying activities.

The resolution saw its support more than doubled from last year, reflecting growing investor concern for the surreptitious ways companies like FedEx are influencing public policy. Meanwhile, Teamster led concerns over the board’s decision to allow executives to ‘double-dip’ on bonuses amid the pandemic prompted nearly a quarter of shares to oppose FedEx’s executive pay plan.

“FedEx needs to be honest with its shareholders over how it is using their money to lobby for controversial and divisive policies – it is that simple,” said Teamsters General Secretary-Treasurer Ken Hall. “Given the vote, anything short of full disclosure puts the credibility of the board at risk and only begs the question: What is FedEx trying to hide?”

FedEx spent over $142 million on federal lobbying over the past decade. However, this figure does not include state-level lobbying or the lobbying FedEx indirectly funds through its membership in trade associations, such as the U.S. Chamber of Commerce.

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and “like” us on Facebook at www.facebook.com/teamsters.

Contact:
Galen Munroe, (202) 439-7427
gmunroe@teamster.org

SOURCE International Brotherhood of Teamsters

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SAN JOSE, Calif., April 17, 2021 — Today, in Transportation Secretary Pete Buttigieg’s first major talk with Silicon Valley since the public unveiling of the historic infrastructure package, he talked about the broad, bipartisan public support for the American Jobs Plan. Secretary Buttigieg spoke with San Jose Mayor Sam Liccardo at the Silicon Valley Leadership Group’s Cities Matter Summit in a talk entitled Infrastructure In-Depth. Buttigieg cited the need to expand broadband as fundamental to both competitiveness and American infrastructure needs.

“It is just as important to have a connection to the Internet, as it is to have a connection to the interstate highway system if you want to survive and thrive in today’s economy,” said Secretary Buttigieg.

Buttigieg says it’s ‘time to reckon with issues that are literally, physically built into our transportation’

Building on his recent online comments, Buttigieg also talked about the role of ‘encoded racism in the form of highways’ in the work of famed city planner Robert Moses. Buttigieg pointed out Moses designed highway overpasses too short to accommodate buses ‘containing largely black and Puerto Rican New Yorkers.’ But he offered that his comments weren’t just about the past but the future of infrastructure – and the Biden-Harris plan to address previous issues.

“Not only do we need to make sure that our future highway choices and transportation choices are equitable,” said Secretary Buttigieg. “we can also reverse some of the harms of the past with dedicated funds to look at communities that were divided often with federal dollars and reconnect them.”

In the other federal visit of the summit, Nuria Fernandez, Deputy Federal Transit Administration Commissioner, spoke to the need to build more equitable transit systems as well as money in the American Jobs Plan to help current mass transit maintenance and fixes. She detailed the local ‘state of good repair’ backlogs including a $4 billion dollar gap at BART and a $600 million ‘state of good repair’ backlog for priority projects at Caltrain. Fernandez offered that the new infrastructure plan was ‘addressing these unmet needs, and while doing so creating jobs.’

The virtual visit by Fernandez marked her first return talk with Silicon Valley since leaving the Valley Transportation Authority to take a job with the Biden-Harris administration. Fernandez also spoke in depth about equity in transportation issues in an engaging Q & A with SVLG CEO Ahmad Thomas.

“Hosting leaders like Secretary Buttigieg and Deputy Administrator Fernandez as they drive these important national conversations is criticial for Silicon Valley right now,” said Ahmad Thomas, SVLG CEO. “Planning for the next generation of infrastructure will require a level of bold action and innovation – two things Silicon Valley is never in short supply of. We stand ready to engage and be a partner on solutions.”

The other major content at the Summit was in affordable housing. In her closing keynote speech, California Senate President Pro Tempore, Senator Toni Atkins tied her own story of growing up in Virginia and moving to a land of greater opportunity in California to the 2021 Senate housing package. Bills featured in the keynote included SB9 which gives more homeowners the option to create small scale developments on their property, SB7 which would speed up the time it takes to process and approve environmental mixed use projects. SB6 which eases transformation of office and retail spaces into housing and SB10 which would allow cities to up zone to 10 units in existing urban and job rich areas that are near transit.

Alexa Arena, Senior Director of Real Estate Development for Google – the presenting sponsor of the summit – talked with SVLG’s Vince Rocha about the community development aspects of Google’s new Downtown West project. In a fireside chat, ‘Developing a New Way Forward,’ Arena talked about the process involved in working with stakeholders as well as the Downtown West project’s long-term community benefits initiatives.

The summit also hosted a panel, ‘Increasing Equity For Stronger Cities’ with Terese McMillan – Executive Director, Metropolitan Transportation Commission, State Senator Scott Wiener, Walter Wilson – CA NAACP California State Conference Exec Committee Member and moderated by Teresa Alvarado – Chair of the CA Water Commission. As well as a dual interview with Santa Clara County Supervisor Cindy Chavez and Republic Urban Properties President Michael Van Every on the post-covid state of housing in Silicon Valley.

The full conference will be available for rebroadcast on Monday at Silicon Valley Leadership Group’s website, SVLG.org/Watch. Clips for media use are available HERE.

About Silicon Valley Leadership Group
The Leadership Group is a business organization of hundreds of Silicon Valley’s most dynamic companies working to shape the innovation economy of California and the nation. Founded by David Packard of Hewlett-Packard, for over 40 years the SVLG has worked to address issues that affect the region’s economic health and quality of life. Today the SVLG Is focused on economic competitiveness with a special focus on diversity & inclusion, climate change and infrastructure. SVLG members collectively provide nearly one of every three private sector jobs in Silicon Valley and contribute more than $3 trillion to the worldwide economy. For more information, visit svlg.org.

Riley Robbins, SVP
Media & Communications
Silicon Valley Leadership Group
408.200.2330
Press@SVLG.org

NEW YORK and SINGAPORE, April 6, 2021 /PRNewswire/ — LogiNext, a global SaaS company optimizing and automating the world of transportation and e-commerce logistics, today announced a milestone partnership with Daraz, a leading shopping-commerce platform owned by Alibaba Group. This partnership involved rolling out the LogiNext Mile platform over which Daraz has optimised and automated millions of orders over the past four years resulting in Asia’s largest eCommerce carrier network.

Through this partnership, Daraz got access to LogiNext’s Mile platform for its Logistics Marketplace recently launched for a potential end customer base of 1 billion+ to empower local logistics businesses and establish their businesses with Daraz. LogiNext’s platform automates order capturing, scheduling, delivery associate compliance, handling peak event sales and the end to end customer experience for these smaller businesses supported by Daraz in its countries.

For LogiNext, a pioneer in the field of logistics automation in North America, working with Daraz was a way to make inroads in Asia via a forward-looking high-tech e-commerce environment that Daraz fosters. Together, the partnership has improved Daraz Logistics Marketplace’s Last Mile deliveries by tracking and accessing billions of location data points to deliver a superior customer experience to millions of end customers.

“LogiNext’s Mile platform has been leveraged by several premier e-commerce giants across the globe. This partnership with Daraz has helped us solve some very real on-the-ground logistical issues native to APAC and it has given a framework for upcoming and existing e-commerce giants to usher in the new face of last-mile deliveries built on the basis of a world-class customer experience,” says Mradul Khandelwal, Vice President of Business Development at LogiNext.

“At Daraz, we are always looking to innovate and bring the best technologies available globally for improved customer experience which in return yields to higher business performance. This partnership has proven to be fruitful for Logistics Marketplace. As an Alibaba group company, our goal is to enable anyone to do business anywhere in this digital era – and working with LogiNext has been one of the cornerstones in achieving our goal.” Jorge Miranda, Chief Information Officer at Daraz Group.

Media Contact:
Jubin Mehta
admin@loginextsolutions.com
+1 339 244 0380
Website: www.loginextsolutions.com

Ahead of the busiest summer moving months, the nation’s largest moving franchise gears up to help Move People Forward by offering fruitful career paths to team members and giving back to communities in need.

LANSING, Mich., April 1, 2021 — TWO MEN AND A TRUCK®, the largest moving franchise in the U.S., has big plans to hire 2,000 team members across its 350 locations in April and provide them a career path toward management or business ownership and independence as part of its annual Career Move Month campaign.

In addition to providing thousands of people a promising career, for every new hire in the month of April, TWO MEN AND A TRUCK will donate five books to educators serving children in need through the non-profit, First Book. Overall, the company plans to donate 5,000 books to deserving organizations nationwide.

“Through Career Move Month, TWO MEN AND A TRUCK promotes opportunities to potential hires and encourages them to join a company focused as heavily on the satisfaction of its customers as it is on its team members’ success,” said Sara Bennett, the brand’s chief talent officer. “We don’t just offer employees a job. We pride ourselves on providing a supportive environment for our employees, one where everyone can experience camaraderie, help people move forward in their own lives and grow their careers.”

As the brand continues to weave together providing opportunity, giving back to the community, and investing in diversity and inclusion at a local level, for April’s Career Move Month, TWO MEN AND A TRUCK locations across the country will donate copies of the children’s book “When Grandma Gives You a Lemon Tree” for every employee hired in April.

“First Book believes education is the best path out of poverty for kids in need and providing meaningful books is one step to support these kids,” said Bennett. “‘When Grandma Gives You a Lemon Tree’ illustrates many important life lessons, including using creativity, patience and hard work to turn an unwanted gift into a blessing for many. This message aligns beautifully with our company’s core purpose, to move people forward.”

How TWO MEN AND A TRUCK is Moving People Forward® in Their Careers

Bennett believes deeply in promoting from within and providing employees with a career path because she too started with the company in an entry level position, as an administrator. She’s not the only member of the brand’s leadership team who rose up through the ranks. Randy Shacka, the brand’s president, began his career as an intern.

Overall, the brand’s commitment to promoting from within has led to 75% of TWO MEN AND A TRUCK location managers coming from frontline positions and one third of the brand’s franchisees having started out on the frontline.

During the worst of the pandemic, after being deemed as essential workers, TWO MEN AND A TRUCK teams did not go on furlough and were able to continue delivering service and earning pay checks. In fact, last summer saw a boom in moving jobs, and the brand’s multiple streams of revenue from additional services including junk removal and storage, provide franchisees plenty of ways to keep employees clocked in.

“A big factor in our brand’s continued success and consistent growth is our commitment to developing staff at all levels, giving them the tools to succeed and develop a career within our brand,” said Bennett. “We’re eager to add thousands of talented new employees to our team, and I can’t wait to hear the success stories of people hired during this year’s Career Move Month.”

ABOUT TWO MEN AND A TRUCK®
Headquartered in Michigan, TWO MEN AND A TRUCK is the largest franchised moving company in North America with each franchise being independently owned and operated. Currently, there are more than 380 locations and 3,000 trucks operating in 45 U.S. states in addition to Canada, Ireland, and the UK. TWO MEN AND A TRUCK has performed more than 8 million moves since its inception in 1985 and has seen consistent growth dating back to December 2009. In 2021, Entrepreneur Magazine ranked TWO MEN AND A TRUCK as one of the top 500 franchises in the U.S. for the 26th consecutive year in addition to being on its list of Top Low Cost Franchises in 2020. Franchise Business Review also named TWO MEN AND A TRUCK a top franchise in 2020, and in 2019, the brand was voted a Top 50 franchise in the Franchisee Satisfaction Awards by Franchise Business Review for the 13th time. For franchising opportunities, visit franchise.twomenandatruck.com.

MEDIA CONTACT:

Lauren Turner

No Limit Agency

312.526.3996

lauren@nolimitagency.com

ZURICH and BANGALORE, India, April 1, 2021 — ABB and Amazon Web Services (AWS), an Amazon.com, Inc. company, announced a collaboration to jointly develop a cloud-based digital solution for the real-time fleet management of EVs. The solution will optimize the efficient use of EVs and speed up the electrification of transport fleets, helping operators worldwide maintain 100 percent business continuity as they transition to fully electric.

The collaboration will combine eMobility leader ABB’s extensive experience in energy management, charging technology and e-mobility solutions with AWS’s unparalleled portfolio of cloud technologies and software expertise.

The new platform, which is planned for roll out in the second half of 2021, will offer a tailored user experience in a single-view platform. From the EV charge point to the fleet data dashboard, it will make EV fleet management more efficient and maximize reliability.

Frank Muehlon, President of ABB’s eMobility Division, comments: “ABB and AWS share a similar vision around the potential of eMobility to transform society. Our combined expertise supports the common goal of making EV fleet management simpler and more accessible. This new solution will revolutionize the world of electric mobility, integrating EV hardware and software into one ecosystem to provide a seamless user experience. We are confident that by working together we can propel the use of electric fleet vehicles by giving operators the confidence to make the switch.”

At present, 23 percent of global, energy-related greenhouse gas emissions are caused by the transport sector. 1Electrification of traffic can substantially reduce CO2 levels and large fleets can play a crucial role with nearly 400,000 electric delivery vans and trucks on the roads globally. 2However, many fleets are met with similar challenges when it comes to real-time vehicle and charging status information, maintenance of EV’s and managing access to charging infrastructure.

Today, most fleet operators opt for third-party charging management software. This offers limited functionality and ability to customize based on the range of EV models and breadth of charging infrastructure. The speed at which charging technology continues to develop is increasing, and the resulting adaptations needed can be costly and take a lot of resources. As such, fleet operators are looking for scalable, secure and easily tailored advanced software solutions, combined with easy to manage charging hardware, that enable them to plug and go.

To drive progress in EV fleets, ABB has created a pureplay venture in Berlin that will develop tailored, scalable and cost-effective technologies for fleet operators which can be used by all vehicle OEMs. Working with AWS, this new venture will design the interoperable fleet management solution to work with all vehicle types and charging infrastructure. Using machine learning and analytics, it will include a compelling set of features including charge planning and real-time monitoring with insight and actions for vehicle health and servicing, along with EV route optimization based on time of day, weather and use patterns.

“As industries forge ahead with electrification of their vehicle fleets, customers need reliable and intuitive services to help them adapt to the new operating model and optimize how they utilize their fleets. This collaboration between AWS and ABB will combine our companies’ deep expertise in the automotive, logistics and electrification spaces with leadership in the cloud to deliver a hardware-agnostic, intelligent electric fleet management solution,” said Jon Allen, Director, Professional Services, Automotive at AWS. “Together, ABB and AWS will bring the insights, agility and scale the cloud provides to the electric vehicle industry and help our customers successfully transition to a lower-emission future.”

For more information on ABB’s eMobility solutions click here, or to read more about Amazon Web Services, click here.

1 Making electric transport the new normal by 2030 | The Climate Group

2 Electric Vehicle Outlook 2020, BloombergNEF

About ABB
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com.

Media Contact:

Archana Kayarat,

AKayarat@webershandwick.com

Through a strategic partnership with Uber, Aurora paves a path for delivering the Aurora Driver broadly

At Aurora, we are driven by our mission to deliver the benefits of self-driving technology, and guided by our values, including focus, setting outrageous goals, and creating a culture where we win together. This focus means having clarity about where we need to go and flexibility in how we get there. Today, we’re announcing that we are acquiring Uber’s self-driving unit, Advanced Technologies Group (ATG). ATG’s team and technology will accelerate our mission and the delivery of our first product safely, quickly, and broadly.

“By adding the people and technology of Uber’s Advanced Technologies Group to the incredible group we’ve already assembled at Aurora, we’re shifting the landscape of the automated vehicle space,” said Chris Urmson, co-founder and CEO of Aurora. “With the addition of ATG, Aurora will have an incredibly strong team and technology, a clear path to several markets, and the resources to deliver. Simply put, Aurora will be the company best positioned to deliver the self-driving products necessary to make transportation and logistics safer, more accessible, and less expensive.”

The team at ATG brings expertise, passion, and determination to delivering self-driving vehicles safely to the road. ATG, like Aurora, has been heads down, focused on building. While their advances in software, hardware, product design, and more have flown under the radar, they have made tremendous headway on many fronts. They are committed to rigorous testing and have built a strong safety culture. With their technical prowess in both research and practical applications, ATG will strengthen and accelerate the first Aurora Driver applications for heavy-duty trucks while allowing us to continue and accelerate our work on light-vehicle products.

In addition to acquiring ATG, we are also announcing a strategic partnership with Uber that connects our technology to the world’s leading ride-hailing platform and strengthens our position to deliver the Aurora Driver broadly. While autonomous trucking is where we will deliver our product first, our relationship with Uber puts us in the unique position to be a leading player in both autonomous trucking and passenger mobility. In support of Aurora’s partnership with Uber, Uber is investing $400 million in Aurora and Uber CEO Dara Khosrowshahi is joining our Board.

“Few technologies hold as much promise to improve people’s lives with safe, accessible, and environmentally friendly transportation as self-driving vehicles. For the last five years, our phenomenal team at ATG has been at the forefront of this effort—and in joining forces with Aurora, they are now in pole position to deliver on that promise even faster,” said Dara Khosrowshahi, Uber CEO. “I’m looking forward to working with Chris, and to bringing the Aurora Driver to the Uber network in the years ahead.”

At Aurora we focus on fueling our progress through developing foundational technology, hiring amazing people, and building valuable relationships and partnerships. Today marks an exciting moment for Aurora, the people of ATG, and the future of self-driving technology. The momentum and power of our combined team creates a unique opportunity to realize our mission, and build the technology and products the world needs to make transportation and logistics safer and more accessible.

Finally, and most importantly, welcome to the team, ATG! We’re proud to have you with us.

Aurora

Aurora, founded in 2017 by the leading experts in self-driving, is delivering the benefits of self-driving technology safely, quickly, and broadly. The company is building the Aurora Driver, a platform that brings together software, hardware and data services to operate passenger vehicles, light commercial vehicles, and heavy-duty trucks across a range of applications. Aurora is backed by Amazon and Sequoia, among others, and tests its vehicles in the Bay Area, Pittsburgh, and Dallas. The company has offices in those three cities and in Bozeman, Montana.

Atlanta, GA
UPS continues to deliver for customers even as Coronavirus uncertainty is requiring greater flexibility and creativity to adapt to new social distancing and other health maintenance protocols. Recently, the White House through the Rapid-Response Taskforce for Coronavirus Testing Sites asked UPS to assist with the logistics planning and operations to support the opening and regular operation of drive-up Coronavirus community-based testing sites in several cities. UPS is ready to assist with transportation support as needed for the community-based testing sites.

“UPS is proud to provide logistics and transportation support to assist with the Administration’s special Coronavirus multi-city testing program. We stand ready to assist to help keep our communities safe,” said David Abney, UPS Chairman and CEO. “We are mobilizing our air and ground network planning and operations teams and we are prepared to fully support this urgent testing program.”

In this dynamic environment, the company is informing employees, suppliers and customers of several measures it is using to avoid the spread of the disease, in line with CDC and WHO recommendations. Governments around the world have recognized that UPS’s global network, and those of other essential logistics companies, must continue to operate. They have allowed UPS to continue operating at high levels of speed and efficiency even in unusual circumstances and in locations where the public is being advised to stay home and avoid contact with others.

UPS is a significant part of the fabric of the global economy. The company transports more than three percent of global GDP and about six percent of U.S. GDP daily. UPS employees are proud of the critical role the company plays for its customers, communities and the economies in countries where it operates. The company provides extensive support to major healthcare companies with services ranging from supply chain management to shipping, storage and fulfillment of medical devices, pharmaceuticals and clinical trials specimens.

UPS is ready to assist with other critical logistics and transportation support as needed. The company and The UPS Foundation play leading roles in humanitarian assistance in times of public crisis. UPS was among the first companies to provide air cargo shipments of face masks and other personal protective equipment when the Coronavirus spread began in China in January. UPS is serving this same role in the United States and in other countries around the world, beyond China, that are grappling with this virus.

Today UPS is adapting to new business realities by temporarily modifying the procedures its drivers use for residential and business deliveries. In order to minimize contact with recipients, UPS is modifying its process related to delivery signatures. When a signature is requested by the shipper, UPS drivers will validate and record the name of the recipient of the package in lieu of obtaining a signature. In addition, where adult signature is requested by a shipper, recipients will be required to present identification with proof of age to the driver upon delivery.

“We know our customers rely on UPS to maintain the flow of goods throughout their supply chains. We are committed to rapidly adjusting our processes to ensure our employees, customers and communities can maintain normal daily life to the greatest extent possible while we adjust to the new realities of this pandemic,” said Abney.

About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. UPS is committed to operating more sustainably – for customers, the environment and the communities we serve around the world. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS was awarded America’s Best Customer Service company for Shipping and Delivery services by Newsweek magazine; Fortune magazine’s Most Valuable Brand in Transportation; and top rankings on the JUST 100 list for social responsibility, the Dow Jones Sustainability World Index, and the Harris Poll Reputation Quotient, among other prestigious rankings and awards. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at ups.com/longitudes The company’s sustainability eNewsletter, UPS Horizons, can be found at ups.com/sustainabilitynewsletter . Learn more about our sustainability efforts at ups.com/sustainability . To get UPS news direct, follow @UPS_News on Twitter. To ship with UPS, visit ups.com/ship.

Alstom announces today that it has signed a Memorandum of Understanding with Bombardier Inc. and Caisse de dépôt et placement du Québec (“CDPQ”) in view of the acquisition of Bombardier Transportation. Post-transaction, Alstom will have a backlog of around €75bn and revenues around €15.5bn[1]. The price for the acquisition of 100% of Bombardier Transportation shares will be €5.8bn to €6.2bn[2] which will be paid via a mix of cash and new Alstom shares. CDPQ will reinvest c.€2bn corresponding to 100% of cash proceeds to be received from the sale of its stake in Bombardier Transportation and further invest €0.7bn[3] in Alstom, outlining its strong belief in the strategic rationale and value creation potential of the combination.

“I’m very proud to announce the acquisition of Bombardier Transportation, which is a unique opportunity to strengthen our global position on the booming mobility market. This acquisition will improve our global reach and our ability to respond to the ever-increasing need for sustainable mobility. Bombardier Transportation will bring to Alstom complementary geographical presence and industrial footprint in growing markets, as well as additional technological platforms. It will significantly increase our innovation capabilities to lead smart and green innovation. We will be thrilled to welcome all the talent and energy of Bombardier Transportation employees. We are deeply committed to step up the turnaround of Bombardier Transportation activities and deliver significant value to all stakeholders, particularly our customers. We will also further develop Bombardier Transportation’s historical presence in Québec, drawing on Québec’s well-established strengths in innovation and sustainable mobility. We are pleased to welcome CDPQ as a new long-term shareholder. CDPQ is fully supportive of the transaction and Alstom’s strategy.” said Henri Poupart-Lafarge, Chairman and CEO of Alstom.

A step-change acquisition

Alstom and Bombardier operate in a very positive market environment with passenger traffic expected to grow between 3% to 5% annually over the 2015-2025 period and global rail OEM market expected to achieve a +3.0% CAGR between 2021-2023[4]. The dynamic is driven by urbanisation trend and a strong push for decarbonation of mobility. In Europe, the European Commission has set very ambitious targets in terms of CO2 reduction and several countries have announced large investments in rail.

Alstom is a preeminent rail equipment player with an industry-record backlog of €40bn and €8.1bn of annual sales as of 31-Mar-2019. Over the period 2016-2019[5], Alstom delivered strong sales development with an average annual growth of 5.5% outperforming the market, and significantly improved profitability (up to 7.5% adjusted EBIT margin).

Bombardier Transportation is a reference player in global rail transportation with a €32bn backlog and €7.4bn sales as of December 2019. With a track record of market leadership and a strong expertise, Bombardier Transportation offers a broad product portfolio across all market segments and has a well-balanced industrial footprint between best-cost and high-tech countries.

Post-transaction, Alstom will benefit from significant additional technologies and added R&D resources to consolidate its innovation leadership in sustainable mobility.

The group will also further develop its presence in Québec, Canada. After the transaction, Montréal will welcome the Headquarters of Alstom of the Americas, leading all Alstom operations and expansion in these geographies. In addition, drawing on Québec’s well-established strengths in innovation and sustainable mobility, Alstom will establish a centre of excellence for design and engineering, as well as high-tech R&D activities, which will notably be focused on developing sustainable mobility solutions.

A unique opportunity to accelerate Alstom’s strategic roadmap, Alstom in Motion

The acquisition of Bombardier Transportation is a one-time opportunity coming at the right moment for Alstom, having significantly strengthened its operational and financial profile over the past 4 years to accelerate its strategic roadmap, and adding to Alstom complementary commercial and industrial platforms. Bombardier Transportation will notably bring to Alstom:

complementary geographical presence to broaden Alstom’s commercial reach in key growing markets leveraging on Bombardier’s successful historical track record in Germany, UK, North America and its unique presence in China
attractive rolling stock additions to Alstom’s portfolio establishing a comprehensive offering across all rail segments to better address customers’ needs for fit-for-purpose mobility solutions, notably with selective niches such as Monorail, People Mover and bringing strong expertise recognition through the development of local specific solutions to blue-chip clients
significant assets for Alstom services business with access to the largest installed train fleet worldwide and a wide maintenance facilities network in a high value segment and opening new opportunities with a strengthened market coverage and service offering
complementary and strategic new geographies in signalling enabling Alstom to accelerate the roll-out of its solutions leveraging on new market access and highly qualified employees consolidating Alstom capabilities in a strategic segment
complete innovation portfolio and significant engineering and R&D resources to lead smart and green mobility innovations
best cost industrial footprint including in Eastern Europe, Mexico and China and complementary footprint in mature markets e.g. Germany & UK

A value-creating transaction for all stakeholders

Alstom is committed to recover Bombardier Transportation’s full operational and profitability potential with the objective of restoring project execution and margin towards standard level. This will be achieved thanks to clearly identified levers including:

focus on operation turnaround and backlog execution based on Alstom best practices systematic roll-out
structured action plan to ensure successful integration and deployment of Alstom best practices and technologies globally
Alstom’s financial discipline and successful track record in profitability step-up
the strong cultural fit and understanding of Bombardier Transportation developed during numerous co-led projects

In addition, tangible and executable synergies have been identified and Alstom plans to deliver €400m run rate cost synergies in year 4 to 5.

As a result of greater efficiency and of a more robust operational profile, the transaction is expected to be double-digit EPS accretive from year 2 post closing[6] for Alstom shareholders.

Customers will also benefit from the extensive expertise and the broad portfolio of this larger entity.

CDPQ becoming a new long-term shareholder of Alstom

Pursuant to the terms of the acquisition, CDPQ (currently holding 32.5% of Bombardier Transportation), will become the largest shareholder of Alstom with approximately 18% of capital[7]. CDPQ is a highly regarded strategic investor with a long-term investment approach and has a significant and successful track record in the rail industry. It is fully supportive of the transaction and Alstom’s strategy. CDPQ will reinvest its proceeds for c.€2.0bn and realize an additional investment of €0.7bn in Alstom.

Bouygues will remain an important shareholder of Alstom with around 10% of capital[8]. It is fully supportive of the transaction and undertook to vote in favor of the transaction-related resolutions at the EGM.

For existing Alstom shareholders, the transaction is expected to deliver significant value and they will be offered the possibility to accompany Alstom in the financing of this strategic acquisition through a rights issue, subject to EGM approval.

Indicative timetable and next steps

The signing of the Memorandum of Understanding has been unanimously approved by each of Alstom’s and Bombardier Inc.’s board of directors and the envisaged transaction is fully supported by CDPQ.

The Memorandum of Understanding organises the information and consultation process by Alstom and Bombardier of their respective Works Councils and contains exclusive commitments by both parties.[9]

An extraordinary general meeting (EGM) voting on the reserved capital increases and the rights issue should take place no later than October 31, 2020. Bouygues undertook to vote in favour of the transaction-related resolutions at this EGM.

Subject to the EGM, rights issue will take place between H2 2020 and H1 2021 and the reserved capital increases will take place at closing.

The transaction will also be subject to clearance from relevant regulatory authorities and anti-trust authorities. Closing is expected in the first half of 2021.

APPENDIX

Deal transaction terms

Structure of the transaction

The transaction will take the form of an acquisition, directly or indirectly, of 100% of Bombardier Transportation’s share capital and voting rights, held by Bombardier Inc. and CDPQ.

After equity raising transactions, CDPQ will become the first shareholder of Alstom with c.18%[10] of the capital depending on financing and closing conditions and will be committed to a 21-month lock-up undertaking from closing and a 22% standstill[11]. It will appoint two board representatives and one Observer (censeur). It will be proposed to the shareholders of Alstom to remove double voting rights to adopt the one share-one vote model.

Price structure

The price for the acquisition of 100% of Bombardier Transportation shares will be €5.8bn to €6.2bn subject to Bombardier Inc’s accounts and mechanisms at closing.

In addition, Bombardier Transportation net cash position at closing will be retained by Alstom and a specific mechanism will lower purchase price on a Euro-per-Euro basis, should Bombardier Transportation have a negative net cash position as of 31 December 2020.

Fully committed financing – securing the transaction while maintaining Alstom’s strong credit profile

Alstom has a fully committed financing structured with the objective of maintaining Alstom’s strong credit profile and commitment to its Baa2 rating.

The acquisition of 100% of Bombardier Transportation shares will be paid with a mix of cash and new Alstom shares. The total equity component of the financing will represent approximately €5bn, of which €2bn will be raised on the market.

€2.6- 2.8bn equity to be provided by CDPQ through a reserved capital increase at closing, for a fixed subscription price of 44.45 euros per Alstom share. CDPQ is to reinvest 100% of the transaction proceeds (€1.93-2.08bn)[12] in Alstom and add new money for €0.7bn.
€0.5bn equity to be provided by Bombardier Inc. through a reserved capital increase at closing, for a fixed subscription price of 47.50 euros per Alstom share[13]
€2.4bn bridge facility, fully underwritten by banks, to be refinanced through
– an equity portion expected to represent up to €2bn to be raised through a rights issue subject to market conditions
– new debt issuance of c.€0.4bn new debt

the balance to be paid with Alstom existing cash on the balance sheet including Bombardier Transportation net cash at closing.

Alstom will reinforce its liquidity profile through a new €1.5bn Revolving Credit Facility replacing Alstom’s and Bombardier Transportation’s existing revolving credit facilities. The new facility will have a five-year tenor with two one-year extension options.

Rothschild & Co and Société Générale are acting as financial advisors to Alstom. Société Générale, Crédit Agricole Corporate & Investment Bank and HSBC are acting as underwriters in the bridge and revolving facilities, with Société Générale also acting as Structuring and Coordinating bank. Cleary Gottlieb Steen & Hamilton is acting as lead legal advisor to Alstom.

The obstacles of your past can become the gateways to new beginnings.” – Unknown

We have acquired Uber Eats India and with this development, we are the undisputed market leaders in the food delivery category in India.

This is a key moment in our journey as it validates our collective achievement – we have worked very hard to get to this point. With our expansion to 550+ cities over the last year, our continued focus on user experience and our commitment to operating excellence, we have demonstrated our ability to execute on a variety of parameters.

The competition in this space is going to continue to be intense, and the food delivery category is still very small compared to the overall food service market in India. This category will continue to grow and get built over the next couple of decades, as we work hand-in-hand with restaurants and food service providers to provide better food for more people.

Our strength in the food delivery category brings with it its added responsibilities and we are keen on continuing to do what we have done this past year, as well as pay even closer attention to our brand, all our stakeholders and most importantly, our users. We must also not forget that with more orders comes greater environmental impact – you will be reading more on this from us in the near future.

Through this deal, Uber Eats India users now become Zomato users. I want to assure Uber Eats India users that their user experience won’t be compromised in any way – if at all, the scale gives us higher density to make our deliveries faster. With Zomato, you’ll realise that we share a common love for great food.

Our restaurant partners have innovated and delighted us in meeting the dizzying pace of consumer demand. And we will continue to work with them with utmost diligence and sincerity.

Similarly, the delivery partners who were earlier associated with Uber Eats India will be on-boarded on our fleet. We welcome them and want to assure them we have their best interest in mind.

Zomato’s mission is better food for more people. We started in 2010 and democratised restaurant discovery to help users find high quality food at restaurants, faster and cheaper. To say the least, this acquisition is a start of a new cycle in our ongoing journey and we could not have been any more excited about the future.

In addition to food delivery, we continue to focus on building our dining out business – and Zomato Gold is now stronger than ever. Hyperpure, our fresh and clean ingredient supply business for restaurants is growing by leaps and bounds and we couldn’t be prouder of the impact that we are making on our users, delivery partners, restaurants, farmers, and our employees.

To better food for more people, and new beginnings.

Zomato Acquires Uber’s Food Delivery Business in India

21 January 2020 , Gurgaon, India: Zomato, one of the largest food apps in India, announced today that it has acquired Uber’s food delivery business in India in an all-stock transaction, which gives Uber 9.99% ownership in Zomato.

Deepinder Goyal, Founder and CEO, Zomato, commented: “We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category. ”

Dara Khosrowshahi, CEO of Uber, said: “Our Uber Eats team in India has achieved an incredible amount over the last two years, and I couldn’t be prouder of their ingenuity and dedication. India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success. ”

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective today.

About Zomato: Zomato is a restaurant review, restaurant discovery, food delivery and dining out transactions platform providing in-depth information for over 1.5 million restaurants across 24 countries and serves more than 70 million users every month.

About Uber: Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 15 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Robert Nisbet, Director of Nations and Regions at the Rail Delivery Group, said:

Britain’s train companies never wanted to leave Interrail.

Following the strong reaction to news of our departure, we and Eurail, the company which runs Interrail, renewed talks.

We are pleased to be able to tell passengers that we have reached agreement and will be remaining part of both the Interrail and Eurail passes.”

“The rail industry boosts British tourism and, working together, rail companies are offering the best option for tourists with BritRail, which is recommended by Visit Britain, offers 2 for 1 deals on 200 attractions across the country and includes the convenience of mobile tickets.

British rail companies have been taking part in a trial of selling Eurail passes for the last year while continuing to sell our long-standing BritRail pass. We are ending the trial with Eurail because offering both passes is confusing and rail companies and Visit Britain support BritRail. BritRail offers:

2 for 1 deals on over 200 top attractions across the country, helping tourists save money
the convenience and environmental benefit of being available to keep your ticket on a smartphone, unlike Interrail/Eurail which offers paper tickets the opportunity to reserve seats discounts for children, youth, senior passengers, families, groups and people travelling between November and February – as well as running promotions throughout the year a wide range of good value passes for people visiting specific regions, for example an England only pass and a BritRail London Plus Pass for travel around the South East up to Stratford Upon Avon, Bristol, Bath and Kings Lynn

We want to work with Eurail Group to develop an offer for tourists who want to buy the Eurail and Britrail passes together.

As part of its continuing efforts to create an inclusive business environment and growth opportunities for women, UPS (NYSE:UPS) has announced the launch of the Women Exporters Program workshops for U.S. businesses. The program will help women business owners and leaders to gain access to the vast global marketplace, comprising 95% of the world’s buyers.

In the U.S., there are nearly 12 million women-owned small businesses, yet women-owned businesses comprise just 12% of U.S. exporters. Providing training to enable small- and medium-sized businesses owned by women to export would help propel those companies onto the world stage. According to a McKinsey Global Institute report, “In a ‘full potential’ scenario in which women play an identical role in (global) labor markets to that of men, as much as $28 trillion, or 26 percent, could be added to global annual GDP by 2025.”

To provide a pathway for cross-border business opportunities, the U.S. launch of the Women Exporters Program will begin at the Women’s Business Enterprise National Council (WBENC) National Conference & Business Fair, one of the largest events of its kind for women business owners in the U.S. At WBENC, UPS will host a series of workshops and offer one-to-one coaching sessions, providing:

Insights and training on export strategies;
Tools and resources to enter new markets;
Insights on how to build an export-friendly digital presence; and
Guidance on package flow and preparing an export shipment.
UPS experts will also provide tips on targeting, research, documentation and shipping processes to help build confidence and competence. The workshops are the first step in the U.S., with additional training sessions being planned for the future.

The U.S. launch is part of a global deployment of the program, which began in May 2019 in Mexico, Nigeria, Turkey and Vietnam, with planned expansion to the United Arab Emirates in September 2019 in collaboration with the International Trade Centre (ITC) as part of the SheTrades initiative. The business training will help women entrepreneurs expand their potential customer base and growth potential, while strengthening communities. According to independent research commissioned by ITC conducted in 20 developing countries, women in those locations tend to invest up to 90% of their income in their children’s health and education. Helping women entrepreneurs build export skills has the potential to reduce intergenerational cycles of poverty.

“As a leading global logistics company, we have deep insights into how businesses move across borders and grow,” said Eduardo Martinez, UPS chief diversity and inclusion officer and president of The UPS Foundation. “Delivering this knowledge and expertise to women entrepreneurs to help expand their business opportunities is just one of the ways we’re helping to catalyze economic prosperity and inclusion across our value chain of customers, suppliers and communities. Our collaboration with ITC, and the launch of the U.S. program with long-time partner WBENC, are demonstrations of the power of public-private partnerships which will advance women entrepreneurs all over the world.”

Kathleen Marran, UPS VP of Diverse Market Segments, confirms the demand for the program, “No matter where I have traveled this year, from the UAE at a SheTrade event, to DC with the National Association of Women Business Owners, to the Women Presidents’ Organization national conference in Charlotte, to the WBENC Women Exporters Program lab, I am so encouraged by the energy, commitment and innovation coming from these women-owned and women-run businesses. Sharing UPS tools, approaches and expertise to help them achieve their objectives is not only worthwhile because it’s smart business, it is meaningful because of the progress we’re able to create.”

In March 2019, UPS was selected for WBENC’s Top Corporation for Women’s Business Enterprises (WBEs) Hall of Fame. While UPS has been recognized previously as a WBENC Top Corporation, this marks the inaugural year for this new, pinnacle designation, and UPS is one of only nine companies selected.

Pamela Prince-Eason, President and CEO of WBENC, said, “UPS has been a strong partner and consistent leader in increasing opportunities for women-owned businesses. Their commitment to diversity and inclusion sets the example, and we are so proud to have inducted them into our inaugural Top Corporations for Women’s Business Enterprises Hall of Fame. The UPS Women Exporters Program launching at our National Conference & Business Fair will truly help move the needle for women-owned businesses by expanding opportunities to new markets and providing opportunities for exponential growth.”

UPS’s commitment to empowering women business owners is part of its broader diversity and inclusion efforts focused on employees, customers, suppliers, and communities. UPS recently announced a collaboration with the United States Agency for International Development (USAID) to promote women’s economic empowerment and improve women entrepreneurs’ ability to export. UPS’s Supplier Diversity commitment enables women- and minority-owned businesses to gain access into UPS’s global purchasing of products and services. UPS’s employee programs focused on diversity and inclusion help foster an inclusive environment that enables each person to learn, grow and contribute.

About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. UPS is committed to operating more sustainably – for customers, the environment and the communities we serve around the world. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS was awarded America’s Best Customer Service company for Shipping and Delivery services by Newsweek magazine; Fortune magazine’s Most Valuable Brand in Transportation; and top rankings on the JUST 100 list for social responsibility, the Dow Jones Sustainability World Index, and the Harris Poll Reputation Quotient, among other prestigious rankings and awards. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at longitudes.ups.com. The company’s sustainability eNewsletter, UPS Horizons, can be found at ups.com/sustainabilitynewsletter. Learn more about our sustainability efforts at ups.com/sustainability. To get UPS news direct, follow @UPS_News on Twitter.

About The UPS Foundation
Since its founding in 1907, UPS has built a legacy as a caring and responsible corporate citizen, supporting programs that provide long-term solutions to community needs. Founded in 1951, The UPS Foundation leads its global citizenship programs and is responsible for facilitating community involvement to local, national, and global communities. In 2018, UPS and its employees, active and retired, invested more than $114.9 million in charitable giving around the world. The UPS Foundation can be found on the web at UPS.com/Foundation and @UPS_Foundation on Twitter.

New data from the second annual The UPS Store® “Inside Small Business Survey” reveals that the entrepreneurial spirit remains strong. Nearly two-thirds (65 percent) of Americans dream of opening a small business, almost identical to the 2018 survey (66 percent). What’s more is that the survey found that age is no indicator of entrepreneurial dreams: 54 percent of Americans say that they would rather open a small business than retire, if money or health were not a factor later in life. Dr. Luke Pittaway, Ohio University College of Business O’Bleness Professor of Entrepreneurship, says this could be attributed to people living longer, healthier lives.

“People are living longer and remain healthier as they come up to retirement age, and many are choosing to start a small business as a way to stay active. In fact, the proportion of people starting businesses in the age range of 55 to 65 has increased in recent years, and at one point even surpassed the typical entrepreneur age group of 25 to 35-year-olds,” Pittaway said. “Older people tend to bring more financial wealth, experience and personal networks to their start-up efforts and therefore have the potential to be very competent entrepreneurs.”

The survey also revealed that there is considerable encouragement for entrepreneurialism from one generation to the next, with 62 percent of survey respondents saying they have hoped their child or a child they know would grow up and start their own business. Among survey respondents who are also small business owners, this jumped to 81 percent.

“The high percentage of respondents who want small business ownership for future generations is fascinating and demonstrates the high regard that Americans hold for entrepreneurial activity,” Pittaway said.

What Fuels the Dream: Freedom, Pride and Community Support

The idea of “being your own boss” continues to excite Americans the most about owning a small business (57 percent), compared to 53 percent who said the same last year. Most respondents (54 percent) also believe that the prospect of succeeding and taking pride in what they build excites them, compared to 47 percent in the 2018 survey.

In addition, community support for small business is strong. The survey revealed that 70 percent of Americans make plans to support a small business when it opens in their community. Among respondents that are also small business owners, that increases to 83 percent. According to the survey, convenience (46 percent) and the quality of goods and services (45 percent) are the top factors in determining whether respondents would rather shop at a small business than a bigger store.

“At The UPS Store, Inc., we recognize that U.S. small business owners are some of the hardest-working, most passionate people around,” said Tim Davis, president of The UPS Store, Inc. “This survey reveals that the majority of small business owners, like our franchisee network, really want to help new business owners in their communities succeed. And with 4,800 locations across the U.S., The UPS Store network is ready to help every step of the way.”

How’s the Economy? It Depends on Who You Ask

The survey showed that small business owners are much more optimistic about the economy compared to the general population. In fact, 72 percent of small business owners believe the current economy is a positive factor for the small business climate, compared to just 42 percent of non-small business owners.

The Biggest Obstacle: Fear

For the second year in a row, fear seems to be the biggest obstacle to pursuing a small business. Americans continue to identify their own financial security (40 percent), financial commitment to operate the business (35 percent) and fear of failure (35 percent) as the major barriers to starting a small business. This is slightly improved from the 2018 survey at 45 percent, 39 percent and 37 percent, respectively. In addition, survey participants say the top expenses that would worry them if they owned a small business are basic operating costs such as utilities (54 percent) and supplies and equipment (50 percent). Almost a quarter of respondents say shipping expenses would worry them if they had a small business.

Bring on the Technology

Interestingly, one thing survey respondents do not fear is technology. A new insight from this year’s survey reveals that Americans are optimistic about the use of technology in small business. Nearly two-thirds (64 percent) of respondents believe artificial intelligence, such as autonomous machines and 24/7 automated customer support, will be helpful for small businesses competing in the future. And more than two-thirds (69 percent) of Americans believe automation is beneficial for small businesses.

“Surprisingly, Americans are far from fearing automation and artificial intelligence when used in small business settings,” said Pittaway. “They see technology as a helping hand, providing tools and apps that make their day-to-day activities more efficient and seamless.”

Current small business owners feel even stronger about the positive impact of technology. Nearly three-quarters (74 percent) of small business owners surveyed believe artificial intelligence will be helpful for small businesses competing in the future, and 78 percent think automation is beneficial to their own business.

The UPS Store Supports Small Business

To support small businesses across the country, The UPS Store, Inc. invites entrepreneurs and small business owners to enter the Small Biz Challenge, a national competition to find the most quick-witted, well-rounded small business owners who can handle anything that comes their way. The contest will culminate in two live business challenge events in New York City and Los Angeles featuring entrepreneurs vying for a chance to win a grand prize of up to $25,000 to help grow their business.

For more information about how to enter The UPS Store® Small Biz Challenge, visit www.theupsstore.com/smallbizchallenge.

For the full Inside Small Business Survey results, visit www.theupsstore.com/insidesmallbusiness.

Survey Methodology: The UPS Store, Inc. commissioned Atomik Research to run a general population online survey of 5,009 adults in the United States. The margin of error fell within +/- 1 percentage point with a confidence interval of 95 percent. The fieldwork took place between March 14 and 20, 2019. Atomik Research is an independent creative market research agency.

RULES & REGULATIONS:

No purchase necessary. Open only to individuals (U.S. residents, 18 or older) who own and operate an independent (non-franchised) small business (50 or fewer employees) in the U.S. Entries must be received by 11:59pm ET 5/12/19. Up to six (6) finalists selected to compete in business challenge event. Finalists must be able to attend business challenge event. Cash prizes awarded to finalists based on score in each business challenge (up to $25,000 in total prizes for each event).

Visit inc.com/theupsstore/rules for complete official rules, including eligibility and judging criteria. Void where prohibited. Sponsored by The UPS Store, Inc., 6060 Cornerstone Court West San Diego, CA 92121 and Mansueto Ventures LLC, d.b.a Inc. Magazine, 250 Greenwich Street, New York, NY 10007.

About The UPS Store

With approximately 4,800 locations across the U.S., The UPS Store® network comprises the nation’s largest franchise system of retail shipping, postal, print and business service centers. The UPS Store locations in the U.S. are independently owned and operated by licensed franchisees of The UPS Store, Inc., a subsidiary of UPS (NYSE: UPS). Services, products, pricing and hours of operation may vary by location. For additional information on The UPS Store, visit theupsstore.com.

In 2019, The UPS Store ranked #5 overall in Entrepreneur Magazine’s Franchise 500 and #1 in the Postal & Business Centers category for the 29th consecutive year. For information on franchise opportunities for opening a The UPS Store location, visit https://www.theupsstorefranchise.com/. Follow The UPS Store on Twitter at @TheUPSStore and like The UPS Store on Facebook at facebook.com/theupsstore.

SAN FRANCISCO, – Lyft, Inc. today announced the pricing of its initial public offering of its Class A common stock at a price of $72.00 per share. Lyft is offering 32,500,000 shares of its Class A common stock, plus up to an additional 4,875,000 shares that the underwriters have the option to purchase. The shares are expected to begin trading on the Nasdaq Global Select Market on March 29, 2019 under the ticker symbol “LYFT” and the offering is expected to close on April 2, 2019, subject to customary closing conditions.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Jefferies LLC, UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated, RBC Capital Markets, LLC and KeyBanc Capital Markets Inc. are acting as book-running managers.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on March 28, 2019. This offering is being made only by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010, by telephone at 800-221-1037 or by email at usa.prospectus@credit-suisse.com; Jefferies LLC, Attn: Equity Syndicate Prospectus Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com; UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at 888-827-7275 or by email at olprospectusrequest@ubs.com; Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, 1 South Street, 15th Floor, Baltimore, MD 21202, by telephone at 855-300-7136 or by email at syndprospectus@stifel.com; RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at 877-822-4089 or by email at equityprospectus@rbccm.com; or KeyBanc Capital Markets Inc., Attn: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, OH 44114 or by telephone at 800-859-1783.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

SAN FRANCISCO AND DUBAI — Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. The acquisition of Careem is subject to applicable regulatory approvals. The transaction is expected to close in Q1 2020.

Uber will acquire all of Careem’s mobility, delivery, and payments businesses across the greater Middle East region, ranging from Morocco to Pakistan, with major markets including Egypt, Jordan, Pakistan, Saudi Arabia, and the United Arab Emirates.

Upon closing, Careem will become a wholly-owned subsidiary of Uber, preserving its brand. Careem co-founder and CEO Mudassir Sheikha will lead the Careem business, which will report to its own board made up of three representatives from Uber and two representatives from Careem. Careem and Uber will operate their respective regional services and independent brands.

“This is an important moment for Uber as we continue to expand the strength of our platform around the world. With a proven ability to develop innovative local solutions, Careem has played a key role in shaping the future of urban mobility across the Middle East, becoming one of the most successful startups in the region. Working closely with Careem’s founders, I’m confident we will deliver exceptional outcomes for riders, drivers, and cities, in this fast-moving part of the world,” said Uber CEO, Dara Khosrowshahi.

“Joining forces with Uber will help us accelerate Careem’s purpose of simplifying and improving the lives of people, and building an awesome organisation that inspires. The mobility and broader internet opportunity in the region is massive and untapped, and has the potential to leapfrog our region into the digital future. We could not have found a better partner than Uber under Dara’s leadership to realise this opportunity. This is a milestone moment for us and the region, and will serve as a catalyst for the region’s technology ecosystem by increasing the availability of resources for budding entrepreneurs from local and global investors,” said Careem CEO and co-founder, Mudassir Sheikha.

The greater Middle East region is already seeing the economic and social benefits of rapid technology adoption and improved access to transportation. This transaction supports the collective ability of Careem and Uber to improve the region’s transportation infrastructure at scale and offer diverse mobility, delivery and payment options. It will speed up the delivery of digital services to people in the region through the development of a consumer-facing super-app that offers services such as Careem’s digital payment platform (Careem Pay) and last-mile delivery (Careem NOW).

This transaction brings together Uber’s global leadership and technical expertise with Careem’s regional technology infrastructure and proven ability to develop innovative local solutions. Both companies believe it will provide an opportunity to expand the variety and reliability of services offered, at a broader range of price points to serve more consumers. Similarly, for drivers and captains, the companies believe an increase in trip growth and improved services could provide better work opportunities as well as higher and more predictable earnings through greater utilisation of drivers’ time on the road.

Jefferies LLC acted as exclusive financial advisor to Careem on the transaction.

About Uber
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 10 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

About Careem
Careem is the internet platform for the greater Middle East region. A pioneer of the region’s ride-hailing economy, Careem is expanding services across its platform to include mass transportation, delivery and payments. Careem’s mission is to simplify and improve the lives of people and build a lasting organisation that inspires. Established in July 2012, Careem operates in 120 cities across 15 countries and has created more than one million economic opportunities in the region.

Mountain View, CA, … BMW i Ventures announced today an investment in Zūm, the leading provider of safe and reliable student transportation for school districts and working families. The company, which celebrates its fourth birthday this month, aims to become the world’s safest and largest child transportation provider.

“Zūm has proven itself as a force to be reckoned with in a market that has a lot of untapped opportunity,” said Ulrich Quay, managing partner, BMW i Ventures. “Its leadership is strong not only because of their drive to help working families, but because they themselves have families and understand the need for better child transportation, today. We’re proud to be supporting Zūm and look forward to seeing its momentum as it continues driving funds back into schools.”

The new funding will be used to expand Zūm’s business model and increase school partnerships throughout the country as the company works to double its footprint by the 2019-2020 school year. Funding will also support the advancement of Zūm’s proprietary technology, such as its state-of-the-art GPS vehicle tracking and real-time system dashboards for school districts to have full visibility into a child’s commute for enhanced safety and efficiency.

Zūm added more than 100 new school districts in 2018, and now operates in 400 cities, transporting children to more than 2,000 public, private and charter schools, with a collective 750,000 students in attendance.

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About BMW i Ventures
BMW i Ventures, BMW’s EUR 500 Mio million venture capital fund, invests money and resources in startups in the fields of autonomous driving, digital car and automotive cloud, e-mobility, artificial Intelligence and data, industry 4.0, shared and on-demand mobility, customer digital life, and energy services. The firm has already partnered with innovative companies such as Carbon3D, Chargepoint, Claroty, DesktopMetal, Graphcore, JustPark, Life360, Moovit, Nauto, Scoop, Stratim, Tekion, Turo, Xometry and Zendrive. BMW i Ventures invests in all stages from seed and incubation to growth companies.

About Zūm
Zūm is the leading provider of safe, efficient and reliable child transportation for school districts and working families. Zūm is committed to saving schools money and parents time by providing flexible ride options, through highly vetted drivers. Since its inception at Stanford University, Zūm has provided over 3.5 million miles of safe and reliable rides and helped parents save over 200,000 hours – and counting. Founded by siblings Ritu Narayan, Vivek Garg, and Abhishek Garg, Zūm is backed by leading venture capital firms including Sequoia Capital and Spark Capital. The company is headquartered in Redwood City, Calif. For more information or to book a ride, visit www.ridezum.com. To apply to be a driver, visit www.ridezum.com/drive.

MANASSAS, Va., Boeing [NYSE: BA] yesterday successfully completed the first test flight of its autonomous passenger air vehicle (PAV) prototype in Manassas, Virginia. Boeing NeXt, which leads the company’s urban air mobility efforts, utilized Boeing subsidiary Aurora Flight Sciences to design and develop the electric vertical takeoff and landing (eVTOL) aircraft and will continue testing to advance the safety and reliability of on-demand autonomous air transportation.

The PAV prototype completed a controlled takeoff, hover and landing during the flight, which tested the vehicle’s autonomous functions and ground control systems. Future flights will test forward, wing-borne flight, as well as the transition phase between vertical and forward-flight modes. This transition phase is typically the most significant engineering challenge for any high-speed VTOL aircraft.

“In one year, we have progressed from a conceptual design to a flying prototype,” said Boeing Chief Technology Officer Greg Hyslop. “Boeing’s expertise and innovation have been critical in developing aviation as the world’s safest and most efficient form of transportation, and we will continue to lead with a safe, innovative and responsible approach to new mobility solutions.”

Powered by an electric propulsion system, the PAV prototype is designed for fully autonomous flight from takeoff to landing, with a range of up to 50 miles (80.47 kilometers). Measuring 30 feet (9.14 meters) long and 28 feet (8.53 meters) wide, its advanced airframe integrates the propulsion and wing systems to achieve efficient hover and forward flight.

“This is what revolution looks like, and it’s because of autonomy,” said John Langford, president and chief executive officer of Aurora Flight Sciences. “Certifiable autonomy is going to make quiet, clean and safe urban air mobility possible.”

The test flight represents the latest milestone for Boeing NeXt. The division works with regulatory agencies and industry partners to lead the responsible introduction of a new mobility ecosystem and ensure a future where autonomous and piloted air vehicles safely coexist. In addition to the PAV, the Boeing NeXt portfolio includes an unmanned fully electric cargo air vehicle (CAV) designed to transport up to 500 pounds (226.80 kilograms) and other urban, regional and global mobility platforms. The CAV completed its first indoor flight last year and will transition to outdoor flight testing in 2019.

“Boeing was there when the aviation industry was born and in our second century, we will unlock the potential of the urban air mobility market,” said Steve Nordlund, vice president and general manager of Boeing NeXt. “From building air vehicles to airspace integration, we will usher in a future of safe, low-stress mobility in cities and regions around the world.”

To learn more and watch the flight, please visit boeing.com.

Boeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in more than 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

FedEx Corp. (NYSE:FDX) announced today that FedEx Trade Networks, Inc. is being rebranded as FedEx Logistics. The new name describes the company’s ability to meet its customers’ increasingly complex and industry-specific supply chain, transportation, value-added services, and brokerage needs. FedEx Logistics provides specialty solutions that complete a simple, seamless and powerful global trade experience for FedEx customers around the world.

“We’re adding tremendous value by bringing all of the specialty services we offer under the FedEx Logistics banner,” said Richard W. Smith, president & CEO of FedEx Logistics. “The global solutions we offer are dynamic and customizable, and the experience for our customers is more streamlined, more efficient and better represented as a collective competitive offering as FedEx Logistics. Our simplified customer interface and comprehensive ability to meet every logistics need will have a profound effect for FedEx customers, our team members, and on our industry as a whole.”

FedEx Logistics will continue to operate from its global headquarters in Memphis, Tenn. The organization’s service offerings include:

• Air & Ocean Cargo Networks
• Trade Brokerage & Facilitation
• Custom Critical Services
• Supply Chain Services
• Cross Border E-Commerce & Fulfillment
• Forward Depots & 3D Printing

The capabilities within these specialty logistics service offerings include air and ocean freight forwarding, customs brokerage and international trade compliance, warehousing and transportation management, time- and temperature-controlled deliveries, critical inventory logistics, solutions for cost-effective international e-commerce trade and fulfillment, and repair and return services.

Serving more than 200 countries, FedEx Logistics leverages the power of the extensive international FedEx transportation network to provide customers a single source for end-to-end management of their shipments and global supply chains.

About FedEx Logistics
FedEx Logistics plays a key role within the FedEx portfolio, connecting 95 percent of the world’s gross domestic product (GDP) with its comprehensive suite of specialty logistics solutions. The company provides air and ocean freight forwarding, supply chain solutions, specialty transportation, cross border e-commerce technology services, customs brokerage, and trade management tools and data from a single trusted source. For more information, visit fedex.com/logistics.

About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $69 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.