Uber Courts Business Users With New Premium Chauffeur Ride Option

Uber Technologies Inc. is launching a new chauffeur ride option targeting corporate and executive travelers, bolstering its $10 billion premium segment in a market where rival Lyft Inc. is also pushing further into high-end offerings.

The new service, Uber Elite, will overtake Uber Black as the most expensive ride option available on its app, the rideshare company said Thursday. Uber is partnering with fleet companies that employ professional chauffeurs to offer trips in luxury vehicles like the Cadillac Escalade, Lucid Air and Lincoln Navigator. Travelers, or their business delegates, must reserve such a ride at least one hour in advance or as much as 90 days ahead.