Uber Invests $800 Million for 100% Electric Fleet by 2030

Uber Invests $800 Million for 100% Electric Fleet by 2030
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Rideshare giant Uber has announced plans to invest $800 million into an 100% electric powered fleet by 2030.

The news comes after Uber released a statement titled ‘Driving a Green Recovery,’ which laid out Uber’s plans to invest $800 million for the all-electric fleet in the coming decades.

Uber says that a 100% electric fleet will be possible in the US, Canada and Europe by 2030, with the rest of the world following by the 2040 mark. The ride-sharing giant added that its model of a $1 premium for a hybrid or electric vehicle – which is already available in 15 cities in the US and Canada – will be rolled out in 65 cities around the globe by the end of 2020. 

The company has announced partnerships with Renault and Nissan to expand its electric fleet in Europe, while Uber has partnered with General Motors for a deal for the United States and Canada. 

These partnerships will reportedly eventuate in discounted prices for purchasers of electric and hybrid vehicles intended for use on the platform. 

CEO Dara Khosrowshahi has said that “it’s our responsibility as the largest mobility platform in the world to more aggressively tackle the challenge of climate change,” adding that “while we’re not the first to set ambitious goals in transitioning to electric vehicles, we intend to be the first to make it happen.” 

Uber has set out a list of four “key actions” the company is planning on taking in order to ensure a zero-emissions fleet by the end of the decade, including: 

  • Expanding Uber Green to make it easier for riders to choose to travel in hybrids or EVs
  • Committing $800 million in resources to help hundreds of thousands of drivers transition to EVs by 2025
  • Investing in our multimodal network to promote sustainable alternatives to personal cars
  • Being transparent and accountable to the public along the way

Uber Invests $800 Million for 100% Electric Fleet by 2030

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In the release, Uber’s CEO says that “drivers who choose to drive greener and electric vehicles will earn extra money with each trip. In the US and Canada, hybrid and EV drivers will receive an extra $0.50 directly from the rider on every Uber Green trip completed. Since our goal is to ultimately transition all drivers to zero-emissions vehicles, drivers using a zero-emission vehicle will receive an additional $1.00 for every trip they complete.” 

Earlier this year, Uber said that it has five million drivers on its platform around the world, and last year facilitated 7 billion trips. Uber’s main competitor, Lyft has made an identical pledge for a zero-emissions fleet by 2030, though it has not pledged to directly incentivise its drivers. 

According to a report from the BBC, “in London, where it has clashed with regulators, Uber had already pledged that all the firm’s rides would happen in electric cars by 2025.” 

In that same report, William Todts, executive director of the Transport and Environment Group in the UK said that “Uber’s commitment to rapidly electrify its fleet in major European cities is good news.” 

“Now it’s time for Europe’s city mayors to show leadership. We need all big cities in Europe to introduce zero-emissions zones, new pop-up bike lanes and cycle-only corridors, while also providing easy access to charging at home, at work and wherever people park.” 

In terms of electric vehicle charging infrastructure, Uber says that it is collaborating with BP and EVgo to expand infrastructure and provide discounts for its drivers using electric or hybrid vehicles. 

Uber Invests $800 Million for 100% Electric Fleet by 2030

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