Ride-sharing in Toronto could soon become an eco-friendly way to travel, which might make you feel a little better about all those Uber charges.
Driving the news: Following the lead of cities like Amsterdam and New York, Toronto is considering requiring vehicles-for-hire — like taxis, Ubers, and Lyfts — to be zero emission by 2031, under a new recommendation by the Municipal Licensing and Standards division.
Recommendations include allocating city funds towards offsetting the cost of transitioning to EVs, as well as expanding charging infrastructure in the city.
Per Global News, there are about 1,800 public charging stations in the city of Toronto, falling well short of the expected demand as drivers shift toward EVs.
Zoom out: Uber and Lyft, two of the world’s biggest ride-sharing platforms, have committed to achieving net-zero emissions across their fleets. Uber is working to create a net-zero mobility platform in Canada, the US, and Europe by 2030, with a global goal set for 2040.
Ride-sharing apps have to strike a delicate balance between rider demand and driver supply. That’s why hailing an Uber in the rain can cost you 4x more.
- Right now, with few requirements to become a driver, here’s a steady supply of cars that keep surge pricing at bay and rides available within minutes.
Bottom line: If the barrier to entry for driving an Uber becomes an electric-powered car, riders could suffer from a lack of driver supply without the proper investments in place.