Uber and BYD Team Up to Globalise EVs on Ride-Hailing Platform
ECONOMY & POLICY

Uber and BYD Team Up to Globalise EVs on Ride-Hailing Platform

Uber Technologies and the Chinese automaker BYD announced a multi-year partnership with the goal of introducing 100,000 new electric vehicles to the global ride-hailing platform.

The collaboration, which will initially roll out in Europe and Latin America, aims to provide Uber drivers with affordable pricing and financing options for BYD's electric vehicles. It is also set to extend to markets in the Middle East, Canada, Australia, and New Zealand.

The companies noted that high prices for electric vehicles and rising borrowing costs have slowed EV adoption over the past two years, leading to less-than-expected demand for these vehicles. However, growing concerns about climate change and the urgent need to reduce greenhouse gas emissions have accelerated the global drive towards electrification in transportation.

To support this shift, Uber and BYD will offer drivers various discounts on vehicle maintenance, charging, financing, and leasing, tailored to each market.

Uber CEO Dara Khosrowshahi highlighted that switching to an electric vehicle allows an Uber driver to achieve up to four times the emissions reduction compared to a regular motorist, due to the higher number of hours they spend on the road.

The companies also announced plans to integrate BYD's vehicles with self-driving technologies into the Uber platform.

In related news, BYD's US competitor, Tesla, is expected to reveal its robotaxi product in October as it seeks to pivot following a decline in EV sales in the first half of the year. Although BYD was the world's largest electric vehicle maker last year, Tesla has since regained its leading position.

Uber Technologies and the Chinese automaker BYD announced a multi-year partnership with the goal of introducing 100,000 new electric vehicles to the global ride-hailing platform. The collaboration, which will initially roll out in Europe and Latin America, aims to provide Uber drivers with affordable pricing and financing options for BYD's electric vehicles. It is also set to extend to markets in the Middle East, Canada, Australia, and New Zealand. The companies noted that high prices for electric vehicles and rising borrowing costs have slowed EV adoption over the past two years, leading to less-than-expected demand for these vehicles. However, growing concerns about climate change and the urgent need to reduce greenhouse gas emissions have accelerated the global drive towards electrification in transportation. To support this shift, Uber and BYD will offer drivers various discounts on vehicle maintenance, charging, financing, and leasing, tailored to each market. Uber CEO Dara Khosrowshahi highlighted that switching to an electric vehicle allows an Uber driver to achieve up to four times the emissions reduction compared to a regular motorist, due to the higher number of hours they spend on the road. The companies also announced plans to integrate BYD's vehicles with self-driving technologies into the Uber platform. In related news, BYD's US competitor, Tesla, is expected to reveal its robotaxi product in October as it seeks to pivot following a decline in EV sales in the first half of the year. Although BYD was the world's largest electric vehicle maker last year, Tesla has since regained its leading position.

Next Story
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?