Uber, BYD partner to deploy 100,000 EVs into ride-hailing platform

• Published On: 31 July 2024 at 19:26

Uber, the ride-hailing behemoth, has secured a multi-year agreement with Chinese electric vehicle maker BYD to integrate 100,000 new EVs into its network.

The alliance initially concentrated on Europe and Latin America, excluding Africa.

Uber drivers will now have greater access to EV ownership thanks to the deal's favourable financing and pricing mechanisms.

It is hoped that the relationship would expand to New Zealand, Australia, Canada, and the Middle East.

This is part of a global drive to electrify transport in response to tougher pollution regulations and growing concerns about climate change. High vehicle costs and rising loan rates have slowed EV adoption, despite increased interest in the technology.

To help hasten the shift, Uber and BYD will provide drivers with incentives such as maintenance reductions, charging benefits, and flexible financing choices.

Uber CEO Dara Khosrowshahi emphasised the possible environmental impact of drivers moving to EVs, citing their longer time on the road than conventional vehicles.

"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," stated Khosrowshahi in a press release.

The collaboration will investigate into implementing self-driving technologies into BYD vehicles as well as ride-hailing services. This announcement coincides with Tesla's (BYD's US rival) preparations for the October launch of their robotaxi.

Although Tesla recovered its status as the world's largest EV maker last year, BYD maintained a brief lead. Uber and Tesla have formed a similar agreement to encourage Uber drivers in the United States to buy electric automobiles.