Uber Technologies Inc. and BYD Co. Ltd. have formed a multi-year strategic partnership designed to bring 100,000 new BYD electric vehicles onto the Uber platform across key global markets.
Beginning first in Europe and Latin America, the partnership is expected to offer drivers access to best-in-class pricing and financing for BYD vehicles on the Uber platform and will expand to include markets across the Middle East, Canada, Australia and New Zealand.
Both companies are EV leaders in their respective categories: Uber has a widely available on-demand EV network, and BYD is a global leader in EV production. By working together, the companies aim to bring down the total cost of EV ownership for Uber drivers, accelerating the uptake of EVs on the Uber platform globally and introducing millions of riders to greener rides.
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. Besides 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.
To support drivers going electric, the companies’ joint efforts may also include discounts on charging, vehicle maintenance or insurance, as well as financing and lease offers, based on what works best for drivers in a given market.
The two companies will also collaborate on future BYD autonomous-capable vehicles to be deployed on the Uber platform. As a leading on-demand mobility and delivery platform, Uber is well-positioned to bring autonomous vehicle technology to a global audience at scale.
“Uber and BYD share a commitment to innovate toward a cleaner, greener world, and I am excited to work together toward that future,” says Chuanfu Wang, chairman and president of BYD.
“As the largest global agreement of its kind, we’re thrilled about the benefits this partnership will deliver for drivers, riders and cities,” adds Dara Khosrowshahi, CEO of Uber. “When an Uber driver makes the switch to an EV, they can deliver up to four times the emissions benefits compared with 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.”