Uber Spending $800 Million For Drivers To Buy EVs To Meet Zero-Emissions Mobility Goal

The rideshare giant says all rides taken using its platform will be zero-emission by

Curated via Twitter from Forbes Tech’s twitter account….

Those using battery-powered cars receive an extra $1 for a total of $1. 50 per trip, Anabel Diaz, Uber’s regional general manager for Europe and emerging markets said in the conference call. “Transportation is the fastest growing source of climate-disrupting pollution, and ride-hailing companies, like Uber, can play a vital role in changing course,” Andrew Steer, president and CEO of the World Resources Institute, said in a statement.

The company says its goal is for all rides taken using its platform to be zero-emission by 2040. “We’re committing to work with cities to build back better together, tackle the climate crisis more aggressively than ever before,” CEO Dara Khosrowshahi said in a conference call Monday. “As our communities recover from COVID-19, we can rebuild them for people, not cars, we can add more green spaces and fewer parking spaces.

His group is partnering with Uber on its initiative. “As Uber increases its focus on low-carbon transportation, it can expand public transit integration and micromobility options, especially for low-income communities, and catalyze the electric vehicle revolution by supporting policies that prioritize the most intensively used vehicles first. Uber shares rose 3. 6% to $34. 44 at 12:05 p. m.

Rideshare giant Uber plans to spend $800 million over the next five years to help its drivers switch from gasoline to electric vehicles by 2025 and promises to become a zero-emissions mobility platform in the decades to come.

In addition to the vehicle purchase assistance, which applies to drivers in the U. S. , Canada and Europe, the company also plans to pay higher rates per trip to drivers who use battery-electric cars and hybrids and is arranging for discounted charging rates with major EV charging networks in the U. S. and Europe.

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