Before Uber (NYSE: UBER) and then Lyft (NASDAQ: LYFT) came onto the scene, traditional taxi cabs reigned supreme on the roads. However, the ride-hailing apps quickly edged out taxi cabs as they allowed for speed and flexibility that taxis just couldn’t match. As long as you had the Uber or Lyft app, you could order a ride and have it there within just a couple of minutes.
After nearly a decade in the game, ride-hailing apps are now facing mounting competition from electric vehicles. With the country on track to electrify its transportation sector as part of its environmental conservation efforts, fleets will be among the first to be disrupted…
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