Taxis, Ride Hailing Services Warming Up To Electric-Powered Cars

Many automakers are amped about the future of electric powered cars. Now, some taxi and ride hailing services are getting on board.

That’s led to an unusual site in New York City. Driver Ramy Gharib drives around town in a new Tesla cab. "The car is so quiet, so nice,” he says.

Gharib works for the company Drive Sally, which is transforming its fleet of cabs and ride-share vehicles from gas to electric. "We want to be a first mover in electric and we think right now is an excellent time to be starting that trend," says Founder Nicholas Williams.

They’re not alone. Uber and Lyft, the giants in the ride-share industry, have both committed to zero-emission cars by 2030. GM says it will stop producing gas burning vehicles by 2035. Amazon is shifting its delivery trucks to electric. Even local governments, including New York City, are buying electric buses.

It’s a business opportunity for E-cab companies like Austin-based Electric Cab North America. "The future is electric," says CEO Chris Nielsen. "I think that the transition is going to be very quick over the next 10 years, particularly the next 5."

Electric vehicle prices have been dropping the past few years, a trend that is expected to continue. "If we have cheap EVs, where I can save 50, 75, 100 dollars a week on gas, that makes a difference for a driver," Williams says.

The shift to E-power could make a big difference for the environment as well.