Uber and BYD announced a multi-year partnership on Wednesday to introduce 100,000 new electric vehicles to Uber’s ride-hailing platform worldwide.
The initiative will begin in Europe and Latin America, offering drivers accessible pricing and financing options for BYD’s electric vehicles. The companies plan to expand this partnership to the Middle East, Canada, Australia, and New Zealand.
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High sticker prices for electric vehicles and increased borrowing costs have hindered EV adoption over the past two years, leading to slower-than-expected demand growth. However, escalating climate change concerns and the urgent need to reduce greenhouse gas emissions have boosted the global push for electrification in the transportation sector.
BYD and @Uber Announce Multi-Year Strategic Partnership.
Customers using the Uber app in Europe and Latin America will soon enjoy BYD's cutting-edge technology, stylish comfort, and advanced safety features.
"Uber and BYD share a commitment to innovate towards a cleaner,⊠pic.twitter.com/xjxHbgSwPv
— BYD Global (@BYDGlobal) July 31, 2024
Uber and BYD will provide drivers with discounts on vehicle maintenance, charging, financing, and leasing, depending on the market, to support the transition to electric 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,” said Uber CEO Dara Khosrowshahi.
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The companies also plan to integrate BYD’s vehicles with self-driving technologies onto the ride-hailing platform. BYD’s U.S. rival Tesla Inc (TSLA.O) is set to unveil its robotaxi product in October as it seeks to pivot after EV sales fell in the first two quarters of the year.
BYD surpassed Tesla last year as the world’s largest electric vehicle maker, though Tesla has since regained the top spot. Uber said in January it was working with Tesla to promote the use of EVs by its drivers in the U.S. as it aims to become emission-free in U.S. and Canadian cities by 2030.
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