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Investing.com — Uber Technologies Inc (NYSE:UBER) is trading higher Thursday after it was revealed the company will begin listing New York City taxis on its app.
The news represents a change in direction for the ride-hailing giant, which for years has faced opposition from taxi groups.
The change in course comes as part of a deal with Creative Mobile and Curb to offer more transportation options. It also helps to ease the company’s struggles with driver availability.
“This is a real win for riders who will now have access to thousands of yellow taxis in the Uber app,” said Guy Peterson, Director of Business Development for Uber.
Uber will roll out a beta for taxi rides in the spring, with a roll out to the general public expected this summer.
Taxi drivers will be able to see Uber-originated fares on their driver monitors before accepting the ride, something Uber drivers do not see.
“Our partnership with Uber is a natural step forward in the expansion of ground mobility and, as a driver-first company, we will remain committed to our taxi drivers and fleets as we work with Uber to generate enhanced stability and financial wellness for members of the taxi industry,” said Amos Tamam, CEO of Curb.
Uber shares gained 5% Thursday.
