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Canada s Lion Electric says it will build new plant in Illinois, create 750 jobs

Canada s Lion Electric says it will build new plant in Illinois, create 750 jobs Reuters 10 hrs ago By Tina Bellon © Reuters/ANDREJ IVANOV FILE PHOTO: Marc Bedard of The Lion Electric Co. speaks during news conference at Palais des Congres in Montreal By Tina Bellon (Reuters) - Canadian electric vehicle company Lion Electric on Friday said it had selected Illinois as the location for its new U.S. manufacturing plant, promising to invest at least $70 million and create about 750 jobs over the next three years. Lion, known for its electric yellow school buses, said it will build the 900,000 square foot facility in Joliet near Chicago to produce 20,000 electric buses and medium and heavy-duty trucks per year.

Uber sees driver cost rising as U S economy recovers - Netscape Money & Business

Uber sees driver cost rising as U.S. economy recovers By Tina Bellon and Akanksha Rana Reuters (Reuters) -Uber Technologies Inc signaled it would pay drivers more to get cars back on the road as the U.S. economy recovers from the pandemic and disclosed a $600 million charge to provide UK drivers with benefits, a sign of the potential costs if the United States requires more driver compensation. Shares of Uber dropped about 4.6% in after-hours trade. The stock fell 3.4% during the regular session after the Biden administration blocked a Trump-era rule affecting gig workers. The cost and speed of business recovery is of paramount interest to investors, and Uber executives on Wednesday said the take rate, an indication of how Uber takes in fees per ride, would drop from the previous quarter to a 20% range. Taking a lower cut will allow Uber drivers to earn more.

Driver shortage, looming regulation cloud Uber, Lyft recovery - Netscape Money & Business

Driver shortage, looming regulation cloud Uber, Lyft recovery By Tina Bellon and Akanksha Rana Reuters (Reuters) - As U.S. customers gradually hail more rides after a year of pandemic restrictions, Uber Technologies Inc s and Lyft Inc s recovery story is clouded by driver shortages and regulatory threats to have workers reclassified as employees. U.S. President Joe Biden campaigned on the promise of delivering benefits to gig workers and U.S. Labor Secretary Marty Walsh last week intensified the debate, telling Reuters in an interview that a lot of gig workers should be classified as employees. Shares in Uber and Lyft dropped as much as 8% and 12% respectively following Walsh s comments, with the companies business dependent on low-cost flexible labor.

Toyota to buy Lyft unit in boost to self-driving plans

Toyota to buy Lyft unit in boost to self-driving plans
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