Uber inks EV partnership with Chinese Tesla competitor BYD

 

Uber has revealed a new agreement to integrate 100,000 electric vehicles (EVs) from China’s BYD into its global fleet. This deal will initially launch in Europe and Latin America before expanding to the Middle East, Canada, Australia, and New Zealand. 

Under the agreement, Uber drivers will receive various incentives to transition to EVs, including discounts on maintenance, charging, financing, and leasing. The companies also plan to incorporate BYD’s self-driving technologies into Uber’s platform.

This announcement comes amidst a global slowdown in EV sales and increasing import tariffs on Chinese vehicles in markets like the US and the EU. To mitigate these challenges, BYD has been expanding its manufacturing footprint outside China. 

Earlier this year, BYD signed a $1 billion deal to build a plant in Turkey, which will have an annual capacity of 150,000 vehicles and is expected to create around 5,000 jobs by late 2026. Additionally, BYD recently launched an EV plant in Thailand, its first in Southeast Asia, with a capacity of 150,000 vehicles and the potential to create 10,000 jobs. The company also announced plans for a manufacturing facility in Hungary and is exploring opportunities in Mexico.

BYD, backed by US investor Warren Buffett, is the world’s second-largest EV manufacturer after Tesla.