Uber Technologies (NYSE: UBER) and BYD (HKG: 1211, OTCMKTS: BYDDY) have announced a significant multi-year strategic partnership, starting with Europe and Latin America, and set to expand to the Middle East, Canada, Australia, and New Zealand. Under this collaboration, BYD will supply 100,000 new electric vehicles (EVs) to Uber’s platform.
The partnership aims to enhance the availability and affordability of BYD’s electric vehicles for Uber drivers. Through this agreement, drivers will benefit from special pricing and financing options for BYD vehicles on the Uber platform.
Beyond the initial regions, the collaboration will extend to other key markets globally. Both companies are committed to reducing the overall cost of EV ownership for Uber drivers, speeding up the global rollout of EVs on Uber’s platform, and providing greener transportation options for millions of riders.
In addition, Uber and BYD will work together on developing future autonomous vehicles, with plans to integrate these innovations into Uber’s network. As the largest on-demand mobility and delivery platform globally, Uber is well-positioned to deploy autonomous vehicle technology widely.
Although Uber drivers are adopting electric vehicles at a rate five times faster than private car owners, price and financing remain significant barriers. BYD’s vehicles, noted for their affordability, low maintenance costs, and high performance, are particularly well-suited for ridesharing. To support this transition, the partnership may also offer discounts on charging, maintenance, insurance, and flexible financing options.
Uber CEO Dara Khosrowshahi expressed enthusiasm for the partnership, highlighting its potential to deliver substantial benefits to drivers, riders, and cities. “As the largest global agreement of its kind, we’re thrilled about the advantages this collaboration will bring,” Khosrowshahi said.
