Uber and BYD team up to drive electric cars globally
4:52 PM EDT, July 31, 2024
Chinese automotive giant BYD and Uber have announced a multi-year strategic partnership to accelerate the global transition to electric vehicles. The manufacturer's electric cars will transport passengers throughout Europe.
The partnership plans to introduce 100,000 BYD electric cars to the Uber platform in key markets worldwide.
The companies' cooperation is set to begin in Europe and Latin America and then expand to the Middle East, Canada, Australia, and New Zealand. The main goal is to reduce Uber drivers' total cost of owning electric vehicles, which will accelerate their adoption of these vehicles on the platform.
Uber and BYD join forces
According to a company statement, "both companies are EV leaders in their respective categories: Uber has the most widely available on-demand EV network in the world, and BYD is a global leader in EV production." By collaborating, the companies aim to lower Uber drivers' overall costs, thereby accelerating the usage of electric vehicles on the Uber platform worldwide.
Research shows that although Uber drivers are transitioning to electric vehicles five times faster than private car owners, the price of electric vehicles and the availability of financing remain key barriers. The companies emphasize that, besides affordability, BYD vehicles have lower maintenance and repair costs and are well-suited for transportation services due to their wide range of models, excellent battery performance, and outstanding build quality.
Support for drivers and future plans
To support drivers transitioning to electric vehicles, the companies state that joint efforts may include discounts on charging, vehicle maintenance, insurance, financing, and leasing offers, depending on what works best for drivers in a given market.
Both companies also plan to collaborate on future autonomous BYD vehicles, which will be deployed on the Uber platform. According to the announcement, "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."
