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Uber partners with Chinese EV maker BYD to help its drivers make the switch

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Uber has announced a new multiyear partnership with Chinese electric vehicle (EV) manufacturer BYD, with an aim of getting a larger number of the rideshare app’s drivers in EVs and eventually also making rides more affordable for passengers. The deal includes lower prices and financing options for Uber drivers looking to get a BYD car, with some models retailing for under $10,000 in China.

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“While Uber drivers are going electric five times faster than private car owners, driver surveys show the price of EVs and availability of financing remain the key barriers to switching,” Uber said in a statement. “In addition to their affordability, BYD vehicles have lower costs of maintenance and repair, and are well suited to rideshare due to the wide range of models, superior battery performance and excellent build quality.”

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This plan between the two companies will initially be implemented with 100,000 BYD EVs making their way to Uber drivers in Europe and Latin America. While U.S. drivers will not benefit due to American tariffs on Chinese EVs, the partnership is expected to expand to other regions, including the Middle East, Canada, Australia and New Zealand. Uber drivers in participating areas may access discounts on charging, maintenance, insurance and leasing offers for their EVs.

“Uber and BYD share a commitment to innovate towards a cleaner, greener world, and I am excited to work together towards that future,” Chuanfu Wang, chairman and president of BYD, said.

The two companies also plan to collaborate further on autonomous driving technology, with BYD working on self-driving vehicles for future use on the Uber app. The ride-hailing company’s CEO Dara Khosrowshahi said last year that self-driving vehicles could eventually make up a fifth of Uber’s offerings, potentially saving users money in the process.

This partnership follows Uber’s previous EV efforts, working with rental car company Hertz to make 50,000 Teslas available for its drivers, and also offering them incentives of up to $2,000 if they switch to a Tesla. These initiatives are part of Uber’s goal to achieve net-zero emissions in the U.S., Canada and Europe by 2030, and globally by 2040.

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[JACK AYLMER]

TAKING AN UBER RIDE MIGHT BE GETTING CHEAPER SOON-

ALL THANKS TO A NEW PARTNERSHIP WITH CHINESE EV-MAKER BYD

THE RIDESHARE APP HAS AGREED TO A MULTI YEAR DEAL THAT WILL OFFER LOWER PRICES AND FINANCING OPTIONS ON BYD CARS TO UBER DRIVERS IN EUROPE AND LATIN AMERICA.

BYD ALREADY SELLS SOME OF THE WORLD’S CHEAPEST EVS, SOME RETAILING AT JUST UNDER 10-THOUSAND DOLLARS IN CHINA-

BUT U.S. TARIFFS AIMED AT PREVENTING CHINESE EVS FROM ENTERING THE COUNTRY MEANS AMERICAN UBER DRIVERS WON’T SEE ANY OF THESE NEW BENEFITS.

BYD and uber plan to expand this partnership to reach other global markets including THE MIDDLE EAST, CANADA, AUSTRALIA, AND NEW ZEALAND.

UBER DRIVERS IN PARTICIPATING LOCATIONS MAY ALSO RECEIVE ACCESS TO DISCOUNTS ON CHARGING, MAINTENANCE, INSURANCE, AND LEASE OFFERS FOR THEIR EVS.  

THE TWO COMPANIES ARE ALSO COLLABORATING ON NEW AUTONOMOUS DRIVING OPTIONS– WITH  BYD IS WORKING ON SELF-DRIVING VEHICLES TO BE DEPLOYED FOR CUSTOMER USE ON THE UBER APP.

THIS COULD POTENTIALLY LOWER PRICES FOR UBER RIDERS ACCORDING TO THE COMPANY’S CEO, WHO PREDICTS SELF-DRIVING VEHICLES WILL EVENTUALLY MAKE UP A FIFTH OF THE APP’S OFFERINGS.

THE RECENT PARTNERSHIP WITH BYD ISN’T THE FIRST TIME UBER HAS MADE AN EV DEAL LIKE THIS.

WORKING WITH RENTAL CAR COMPANY HERTZ TO MAKE 50,000 TESLAS AVAILABLE FOR ITS DRIVERS.

ALSO OFFERING THEM INCENTIVES OF UP TO $2,000 TO SWITCH TO A TESLA.

THE COMPANY’S DEAL WITH BYD WILL INVOLVE ABOUT 100-THOUSAND VEHICLES TO START WITH. 

ALL PART OF UBER’S GOAL TO REACH NET ZERO EMISSIONS ACROSS THE U.S. CANADA, AND EUROPE BY 20-30-

BEFORE REACHING THAT SAME MARK GLOBALLY BY 20-40.

JACK AYLMER – STRAIGHT ARROW NEWS.