In the last few years post-pandemic, fleet-management companies like Everest have become the silent battalion in Uber's army of cabs. In fact, 90% of Everest's fleet is with Uber.
This, of course, has helped Everest grow its revenues by 150X. Both seem to have found their relationship to be mutually beneficial. Everest gets to run its assets on a high demand platform. And for Uber, it become so much easier to manage its cars. No need to deal with hiring and training drivers.
Now, Uber is deepening its ties with Everest, especially since it wants to roll out EVs. But as Uber gives more control to the fleet management company, the basics of the ride hailing business could change forever.
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