Uber & BYD team up for a fleet of 100,000 electric cars

Uber and Chinese carmaker BYD said Wednesday they had teamed up to make 100,000 electric vehicles available to the ride-hailing giant's drivers.

The multiyear partnership, which the companies described as the largest of its kind, will start in Europe and Latin America before expanding to Australia, Canada, New Zealand and countries across the Middle East.

It is not a massive purchase of vehicles akin to Hertz's order of 100,000 Teslas in 2021, but depending on the country, Uber's independent drivers will have access to advantageous financing or leasing offers for BYD electric vehicles, as well as discounts on recharging, maintenance and insurance.

BYD has been jostling with Tesla as the top manufacturer of EVs and while Uber is making the switch much faster than the regular public, the company says affordability remains a brake to greater uptake.

"By working together, the companies aim to bring down the total cost of EV ownership for Uber drivers, accelerating the uptake of EVs on the Uber platform globally, and introducing millions of riders to greener rides," the companies said in a statement.

Some 126,000 Uber drivers out of 7 million had zero-emissions vehicles at the end of 2023.

The company plans to accept only drivers with EVs in Europe and North America from 2030.

Uber has concluded deals with other carmakers but on a much smaller scale.

"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.

"Many riders also tell us their first experience with an EV is on an Uber trip, and we're excited to help demonstrate the benefits of EVs to more people around the world," he added.

BYD produces a number of EVs in different price segments, including a small hatchback that starts at under $10,000 in China and is rapidly expanding the number of countries to where it exports and is planning to build factories in Europe.

The partnership with Uber could help BYD gain better brand recognition in new markets and boost sales for new dealerships.

The two companies said they will also collaborate on future BYD autonomous-capable vehicles to be deployed on the Uber platform.

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