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How Uber and Lyft Are Losing the Race to the Electric Future

May 10, 2021, 9:00 AM

When Curt Kinder bought a new electric Chevy Bolt three years ago, he wanted an excuse to drive it as often as possible. “It’s so smooth, quiet and agile,” he said.

So the 55-year-old electrical engineer and business owner in Jacksonville, Florida, signed up to become one of the first electric vehicle owners to drive for Uber and Lyft. Like any curious engineer, Kinder kept a meticulous spreadsheet of income and expenses for all of his 6,000-plus ride-hailing trips. He quickly realized an important truth: It’s more profitable to operate an EV than a gas-powered car.

Kinder spends about $5 per ...

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