President Biden Wants Federal Employees To Drive Or Support Electric Vehicles: How Uber, Lyft, Hertz Could Benefit
Portfolio Pulse from Chris Katje
President Biden's administration announced new commitments to boost the electric vehicle sector, including guidelines for federal employees to prioritize electric vehicles for official travel. Hertz Global Holdings Inc (HTZ) plans to increase electric vehicle rentals, Lyft Inc (LYFT) offers a 'Green Mode' for eco-friendly rides, and Uber Technologies (UBER) expands its 'Green Curb at Airports' program. Tesla Inc (TSLA) could benefit from the push for electric vehicles and is working to improve charging infrastructure.
December 18, 2023 | 5:44 pm
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POSITIVE IMPACT
Hertz is set to increase its electric vehicle rentals significantly in 2024, which aligns with Biden's federal sustainability plan.
Hertz's commitment to an 'eightfold increase' in EV rentals directly aligns with the federal push for sustainable transportation, likely increasing demand for their services.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lyft's 'Green Mode' allows users to request electric vehicles, which may see increased usage with the new federal travel guidelines.
Lyft's existing 'Green Mode' positions the company to benefit from the federal push for electric vehicle use, especially at major airports.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Tesla could benefit from Biden's electric vehicle push and its efforts to expand charging infrastructure through new partnerships.
Tesla's role in the EV market and its work on charging infrastructure align with the federal goal of increasing EV adoption, potentially boosting its business.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Uber's expansion of 'Green Curb at Airports' and incentives for EV use align with federal goals, potentially increasing its EV services usage.
Uber's 'Green Curb at Airports' and incentives for EV use are in line with the federal sustainability goals, which could lead to increased usage of Uber's EV services.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70