BYD and Uber have announced a multi-year strategic partnership that aims to introduce 100,000 new electric vehicles (EVs) across key global markets, marking one of the largest agreements of its kind in the industry.

In terms of the partnership, it will initially focus on Europe and Latin America before expanding to the Middle East, Canada, Australia, and New Zealand. One key market absent from the list is the United States (U.S.), likely due to ongoing trade tensions and high tariff rates on Chinese EVs.

Furthermore, ride-share drivers will gain access to BYD’s EVs at competitive prices with tailored financing options according to Uber. This initiative addresses a major barrier to EV adoption among ride-share drivers: the high upfront costs of EVs. BYD, known for its affordable EVs with lower maintenance and repair costs, will fulfill this concern of ride-share operations.

Stella Li, Executive Vice President of BYD and CEO of BYD Americas, expressed enthusiasm about the partnership’s potential stating, “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.”

Notably, the partnership goes beyond EV supply, potentially offering drivers additional benefits including discounts on charging, maintenance, insurance, and various financing and leasing options. As a result, this comprehensive approach aims to make the transition to EVs more attractive and accessible for Uber drivers.

Dara Khosrowshahi, CEO of Uber, expressed the positive environmental impact of the partnership when making the switch to EV stating, “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.”

Furthermore, both companies agreed to collaborate on developing autonomous-capable vehicles for future deployment on the Uber platform, signaling a long-term vision for the partnership.

With this partnership, Uber’s challenging push to electrify its fleet with goals of 100% electric rides in major markets by 2030 is more achievable. As for BYD, this agreement presents another opportunity to expand its global footprint and establish its presence in markets where it is less known.

Moreover, the partnership highlights the complex geopolitical landscape of the EV industry. With Europe’s new high tariff rate on Chinese EVs and Canada considering implementing higher tariff rates on them as well, BYD’s navigation through international tensions with this partnership may accelerate its goals.

Read More: BYD Eyes Canadian Market Entry Amid Tariff Discussions

As this partnership unfolds, it is project to have far-reaching impacts on the ride-hailing industry, EV adoption rates, and urban transportation ecosystems worldwide. By combining Uber’s network with BYD’s EVs, the acceleration of the transition to electric mobility in cities across the globe will be further spotlighted.

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