ryde-ing in style

City approves funding for EV rideshare service in underserved communities in Houston

Need a RYDE? The city voted to provide funding to expand the electric vehicle initiative. Photo via Evolve Houston

The city of Houston approved $281,000 funding for the expansion of free electric vehicle rideshare services in communities that are considered underserved by utilizing services like RYDE and Evolve Houston.

The funding will be dispersed to RYDE in through the nonprofit Evolve Houston.

“It’s exciting to see a Mayor and City Council get behind a true eco-friendly initiative aimed and providing critical transportation needs for underserved communities,” Evolve Houston President and Executive Director Casey Brown says in a news release. “The program has seen amazing success in the Third Ward and now another historically underserved community will be able to benefit from a service that gets residents to and from in-town destinations for free.”

Rideshare service RYDE has been operating in Houston’s Third Ward since June with almost 3,000 passengers per month being served. The services will expand beyond Third Ward through Houston Complete Communities, which is a citywide initiative to bring innovation and assistance to the city’s underserved communities.

The two new vehicles are expected to hit the road early December, as well as the continued service of two vehicles in Third Ward.

“The positive aspects of expanding RYDE’s EV transportation initiative beyond Third Ward are twofold,” Mayor Sylvester Turner says in the release. “The environmental impact of the low-emission vehicles coupled with the vital service it provides to underserved neighborhoods makes this a win-win decision for the City of Houston and its residents who are faced with transportation challenges. This funding decision is in lockstep with Houston’s Climate Action Plan and the intention behind the Complete Communities initiative.”

Evolve Houston was founded in 2018 through Houston’s Climate Action Plan and relaunched last year. They recently released a Grant Tracker, which aims to make it easier to find funding opportunities, and assist with current grants available to organizations and individuals that are committed to a goal of zero emissions. The tracker serves as a tool to assist with purchasing an EV and charging equipment. Ultimately, Evolve wants to assist and fund those looking to make the transition to electric. Evolve continues to evolve its sphere of influence, the company still aims for equity, and its goal to have half of the vehicles in the city be electric by 2030.

“Houston maintains some of the lowest population density and longest commute distances of major U.S. cities and we have an immense amount of business and goods that flow through Houston,” Brown says. “ We see a landscape that can uniquely achieve larger financial and environmental benefits of EV technologies.”

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A View From HETI

Twenty-six Houston-area companies landed on the latest Fortune 500 list. Photo via Getty Images

Houston maintained its No. 3 status this year among U.S. metro areas with the most Fortune 500 headquarters. Fortune magazine tallied 26 Fortune 500 headquarters in the Houston area, behind only the New York City area (62) and the Chicago area (30).

Last year, 23 Houston-area companies landed on the Fortune 500 list. Fortune bases the list on revenue that a public or private company earns during its 2024 budget year.

On the Fortune 500 list for 2025, Spring-based ExxonMobil remained the highest-ranked company based in the Houston area as well as in Texas, sitting at No. 8 nationally. That’s down one spot from its No. 7 perch on the 2024 list. During its 2024 budget year, ExxonMobil reported revenue of $349.6 billion, up from $344.6 billion the previous year.

Here are the rankings and 2024 revenue for the 25 other Houston-area companies that made this year’s Fortune 500:

  • No. 16 Chevron, $202.8 billion
  • No. 28 Phillips 66, $145.5 billion
  • No. 56 Sysco, $78.8 billion
  • No. 75 Conoco Phillips, $56.9 million
  • No. 78 Enterprise Products Partners, $56.2 billion
  • No. 92 Plains GP Holdings, $50 billion
  • No. 143 Hewlett-Packard Enterprise, $30.1 billion
  • No. 153 NRG Energy, $28.1 billion
  • No. 155 Baker Hughes, $27.8 billion
  • No. 159 Occidental Petroleum, $26.9 billion
  • No. 183 EOG Resources, $23.7 billion
  • No. 184 Quanta Services, $23.7 billion
  • No. 194 Halliburton, $23 billion
  • No. 197 Waste Management, $22.1 billion
  • No. 214 Group 1 Automotive, $19.9 billion
  • No. 224 Corebridge Financial, $18.8 billion
  • No. 256 Targa Resources, $16.4 billion
  • No. 275 Cheniere Energy, $15.7 billion
  • No. 289 Kinder Morgan, $15.1 billion
  • No. 345 Westlake Corp., $12.1 billion
  • No. 422 APA, $9.7 billion
  • No. 443 NOV, $8.9 billion
  • No. 450 CenterPoint Energy, $8.6 billion
  • No. 474 Par Pacific Holdings, $8 billion
  • No. 480 KBR Inc., $7.7 billion

Nationally, the top five Fortune 500 companies are:

  • Walmart
  • Amazon
  • UnitedHealth Group
  • Apple
  • CVS Health

“The Fortune 500 is a literal roadmap to the rise and fall of markets, a reliable playbook of the world's most important regions, services, and products, and an indispensable roster of those companies' dynamic leaders,” Anastasia Nyrkovskaya, CEO of Fortune Media, said in a news release.

Among the states, Texas ranks second for the number of Fortune 500 headquarters (54), preceded by California (58) and followed by New York (53).

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