Uber has partnered BYD in a bid to rapidly grow its electric car fleet, offering drivers more attractive pricing and financing on the Chinese giant's EVs.
BYD plans to offer some 100,000 cars to Uber over multiple years and markets, starting this year in Europe and Latin America and following with the Middle East, Canada, Australia and New Zealand.
A joint statement issued by the two firms noted that drivers flag the purchase price of EVs, as well as the availability of finance deals, as the biggest barriers to making the switch.
They said they may also consider discounting charging, maintenance and insurance to further incentivise Uber employees.
It comes as Uber nears its self-imposed deadlines for the full electrification of its regional fleets, with London scheduled to ditch combustion-engined taxis by the end of 2025.
It had previously partnered with British EV start-up Arrival on the development of an electric car designed specifically for ride-hailing. That was announced in 2021, but Arrival soon ran into financial trouble; the Financial Times reported that development was halted in August 2022 and it entered administration in February 2024.
Nonetheless, Uber remains committed to its 2025 target. It announced in May that it would offer £5000 towards the purchase of an EV, be it new or used. It also has a deal with Kia dealer Humming Bird Motors in London, offering £13,000 off a Niro EV and £17,000 off an EV6.
“When an Uber driver makes the switch to an EV, they can deliver up to four times the emissions benefits compared to a regular motorist, simply because they are on the road more,” said Uber CEO Dara Khosrowshahi.
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