Uber, a ride-hailing service, and BYD, a Chinese electric vehicle (EV) manufacturer, have joined forces to “accelerate the global EV transition.”
Uber announced “a multi-year strategic partnership designed to bring 100,000 new BYD electric vehicles onto the Uber platform across key global markets.”
This deal is set to offer Uber drivers access to “the best-in-class pricing and financing for BYD vehicles on the Uber platform, the ride-hailing giant said.
The switch will be introduced in Europe and Latin America first but will be expanded to accommodate global markets in the Middle East, Canada, Australia, and New Zealand.
Uber cites a driver survey that demonstrates that people aren’t making the switch to electric vehicles due to their high price and the lack of available financing.
Uber said it would sweeten the deal by including discounts on charging, vehicle maintenance, or insurance alongside financing and lease offers “based on what works best for drivers in a given market.”
Uber is also teasing the introduction of autonomous-capable vehicles as it says that both companies will collaborate on the future deployment of autonomous EVs.
“As the largest on-demand mobility and delivery platform in the world, Uber is well-positioned to bring autonomous vehicle technology to a global audience at scale,” the company said.
“Uber and BYD share a commitment to innovate towards a cleaner, greener world, and I am excited to work together towards that future,” said Chuanfu Wang, Chairman and President of BYD.
“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. 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,” said Dara Khosrowshahi, CEO of Uber.
Uber is a multinational transportation company based in the US which includes a range of services from ride-hailing to food delivery.
BYD is a multinational technology company headquartered in China that manufactures EVs, batteries, and electronics.
The EV giant outsold Elon Musk’s electric vehicle company, Tesla, in the last quarter of 2023.
Tesla announced it delivered a record 484,500 electric cars. However, BYD said it handed out over 526,000 battery-only vehicles.
As its global market influence grows, so do investments. BYD recently signed a deal to build a manufacturing facility in Turkey.
This includes a $1 billion investment from the Chinese manufacturer in the EV factory that will supposedly produce 150,000 electric and hybrid vehicles per year.
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