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Uber Plans Expansion With Cheaper Hybrid Vehicles

News updates all day from Fast Company.

Uber, still technically a startup despite its fast-growing international standing, has revealed that from this Wednesday it'll be launching a cheaper taxi car option that connects its users to hybrid vehicles instead of the usual more luxurious black town cars. The new hybrid solution will cost a markup of just 10% to 25% more than the cost of a typical taxi—meanwhile still delivering the speed and convenience of the smartphone-centric Uber business model—compared to the 40% to 100% that Uber costs for town cars. In another tweak from Wednesday Uber users will also be able to request a stretch limo or an ice-cream van. According to the New York Times, Uber has seen monthly revenue growths around 20% to 30% over the last year.

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