Uber has entered into a multi-year agreement with BYD that will provide 100,000 BYD vehicles to Uber Drivers in some global markets. Uber will provide drivers with pricing and finance support to add BYD vehicles to the Uber portfolio. The partnership will first take effect in Europe and Latin America and will later be expanded to markets like the Middle East, Canada, Australia, and New Zealand.
Tackling The EV Adoption Barriers
In its statement, Uber said, “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.” The most significant aim of this partnership between Uber and BYD is to decrease these barriers. It will include the drivers getting incentives like discounts on financing, charging, leasing and maintenance. They also mentioned how BYD has an extensive range of models, better battery performance and good build quality.
Headed to Autonomous Cars
The companies said they would collaborate on BYD autonomous capable cars that would be added to Uber’s car lineup. This might turn out to be a significant opportunity for BYD to implement its autonomous tech all across the globe through Uber’s network.
What Top Executives said
Chuanfu Wang, Chairman and President of BYD stated “Uber and BYD share a commitment to innovate towards a cleaner, greener world, and I am excited to work together towards that future,”
Dara Khosrowshahi, CEO of Uber said “As the largest global agreement of its kind, we’re thrilled about the benefits this partnership will deliver for drivers, riders, and cities. 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.”
Stella Li, Executive Vice President of BYD and CEO of BYD Americas, commented, “We are elated to join forces with a global leader like Uber to not only accelerate the transition to electric vehicles but also make green transportation accessible and affordable for everyone. This collaboration marks a new era in the electrification of urban mobility, and we look forward to seeing our cutting-edge EVs become a common sight on the streets of cities worldwide.”
BYD already took the title of the world’s largest EV seller from Tesla last year. This deal may further increase its dominance in the EV space, with the American automaker also facing the issue of falling EV sales in its key markets.
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