Uber and BYD Forge Strategic Partnership to Deploy 100,000 Electric Vehicles Globally
Ride-sharing giant Uber Technologies (NYSE: UBER) and leading electric vehicle (EV) manufacturer BYD have entered into a multi-year strategic partnership to bring 100,000 new BYD EVs to Uber’s platform across key global markets, starting with Europe and Latin America, and expanding to the Middle East, Canada, Australia, and New Zealand.
Key Points:
- Partnership Launch: The partnership begins in Europe and Latin America, with plans to extend to other regions.
- Vehicle Supply: BYD will supply vehicles tailored for Uber’s ride-sharing services.
- Market Expansion: The partnership will gradually extend to other regions, including the Middle East, Canada, Australia, and New Zealand.
- Driver Support: The initiative aims to provide drivers with competitive pricing and financing options for BYD vehicles on the Uber platform.
- Cost Reduction: Both companies aim to reduce the total cost of EV ownership for Uber drivers.
- Global Rollout: The partnership accelerates the global rollout of EVs on the Uber platform, enabling greener rides for millions of passengers.
- Autonomous Vehicle Development: Uber and BYD will collaborate on the development of future autonomous driving vehicles for the Uber platform.
- Affordable EVs: BYD vehicles are known for their affordability, low maintenance costs, and suitability for ridesharing.
- Support Services: Joint efforts may include discounts on charging, maintenance, insurance, and financing options tailored to drivers’ needs.
Executive Comments:
- Uber CEO Dara Khosrowshahi: “We’re excited about the benefits this partnership will deliver for drivers, riders, and cities. When Uber drivers switch to EVs, they can deliver up to four times the emissions benefits compared to a regular motorist.”
- BYD Executive Vice President Stella Li: “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.”
Previous Partnerships:
- SIXT Partnership: In 2022, BYD partnered with German car rental company SIXT, committing to purchase 100,000 EVs over the next several years. The first model offered was the Atto 3, an SUV based on BYD’s latest e-Platform 3.0.
BYD’s Market Leadership:
- Sales Growth: BYD has become the world’s largest new energy vehicle (NEV) maker, selling 1,612,983 NEVs in the first half of this year, up 28.46% year-on-year.
