Nicolas Hasson-Faure / Hans Lucas / AFP / Getty Images Uber announced several new features at its annual Go-Get event on Wednesday, May 14

Key Takeaways

Uber Technologies announced several affordability-focused features at its annual Go-Get event on Wednesday. Commuters will get new ways to lock in prices for frequent routes and to purchase bulk rides, and Uber Eats will get a new "Savings Slider," the company announced. Uber also revealed details about its partnerships with reservation platform OpenTable and Volkswagen for its autonomous vehicles.

Uber Technologies (UBER) announced a slate of new features focused on affordability at its annual Go-Get event on Wednesday, along with details for its partnerships with OpenTable and Volkswagen.

The ridesharing giant showcased several features for commuters, which will be contained in a new in-app "Commute Hub" set to launch this summer. Uber also will soon offer price locks and bulk-ride purchases that the company says will save money for users who frequently take the same or similar rides, such as people who commute to and from work.

Uber is also launching a feature called "Route Share," which will be available during weekday commute hours and allow users to walk a few minutes to meet at a common pickup point, take a ride with up to two others, and walk another short distance after being dropped off. Chief Product Officer Sachin Kansal said in the presentation that the feature could be some 50% cheaper than a typical Uber X ride on the same route.

Uber Eats to Get 'Savings Slider,' OpenTable Partnership

Uber Eats is also launching a "Savings Slider" feature this year in the U.S. and Canada, allowing users to choose comparison-shop on a specific grocery list and be presented with cheaper options than the products they have picked.

The company announced details for a pair of previously announced partnerships during the event, including with Booking Holdings' (BKNG) OpenTable for a "Dine Out" feature. The service will show in-restaurant deals where the user is, and allow them to book a reservation in the Uber Eats app with OpenTable's reservation network.

The other partnership is with Volkswagen, with Uber planning to offer shared rides in the German automaker's ID. Buzz AD autonomous electric vehicles starting in Los Angeles in early 2026. The companies announced the partnership last month, saying rides were expected to start next year.

Uber shares were down nearly 2% in recent trading but are still up roughly 50% since the start of the year.

Read the original article on Investopedia

View Comments