Ride share giant Uber Technologies (UBER) is relaunching its service in several Canadian cities under new name “UberX Share.”
The San Francisco-based company says that its ride-hailing service will be available in Toronto, Montreal, and Vancouver immediately under the new UberX Share brand.
UberX Share will charge passengers about 20% less than a traditional taxi in exchange for sharing a ride with strangers headed to nearby destinations.
Uber’s ride sharing service in Canada was paused in 2020 when the COVID-19 pandemic began and people started to socially distance.
Uber says it spent months testing and refining its ride sharing service under the new UberX Share brand.
The company said that, going forward, an average of six minutes will be added to trips and that drivers will be paid an extra $1 pick-up incentive for adding a second rider.
Uber’s stock has decreased 10% over the past year to $33.90 U.S. per share.
