Uber Technologies, Inc. (NYSE: UBER) and BYD Co. Ltd. have announced a multi-year strategic partnership aimed at integrating 100,000 new BYD electric vehicles onto the Uber platform across key global markets. Initially launching in Europe and Latin America, the partnership will provide drivers with access to competitive pricing and financing for BYD vehicles, eventually expanding to include markets in the Middle East, Canada, Australia, and New Zealand.
As leaders in their respective fields—Uber with the world’s most extensive on-demand EV network and BYD as a global EV production leader—the companies aim to reduce the total cost of EV ownership for Uber drivers. This initiative seeks to accelerate EV adoption on the Uber platform globally, introducing millions of riders to greener transportation options.
Despite Uber drivers transitioning to electric vehicles five times faster than private car owners, cost and financing availability remain significant barriers. BYD vehicles, known for their affordability, low maintenance costs, and suitability for rideshare due to a wide range of models, superior battery performance, and build quality, address these concerns.
The partnership may also include joint efforts to offer discounts on charging, vehicle maintenance, insurance, and tailored financing and lease options, depending on market needs.
Looking ahead, Uber and BYD will collaborate on future autonomous-capable BYD vehicles for the Uber platform. As the largest on-demand mobility and delivery platform globally, Uber is well-positioned to scale autonomous vehicle technology for a wide audience.
“Uber and BYD share a commitment to innovate towards a cleaner, greener world, and I am excited to work together towards that future,” said Chuanfu Wang, Chairman and President of BYD.
Dara Khosrowshahi, CEO of Uber, added, “As the largest global agreement of its kind, we’re thrilled about the benefits this partnership will deliver for drivers, riders, and cities. When an Uber driver makes the switch to an EV, they can deliver up to four times the emissions benefits compared to 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.”
Stella Li, Executive Vice President of BYD and CEO of BYD Americas, also commented, “We are elated to join forces with a global leader like Uber to not only accelerate the transition to electric vehicles but also to make green transportation accessible and affordable for everyone. 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.”
