Uber, BYD announces strategic partnership on EV

US Uber Technologies and Chinese automaker BYD have announced a multi-year strategic partnership to bring 100,000 new BYD electric vehicles onto the Uber platform.

The partnership is expected to offer Uber drivers access to affordable pricing and financing for BYD vehicles on the ride-hailing platform, starting with the European and Latin American markets with plans to expand further to the markets across the Middle East, Canada, Australia and New Zealand, according to a joint statement on Wednesday.

According to the Chinese manufacturer, BYD vehicles are well suited to rideshare thanks to the wide range of models, superior battery performance, lower maintenance and repair costs, and excellent build quality.

The firms' joint efforts to bring down the total cost of EV ownership for Uber drivers could include discounts on charging, vehicle maintenance, or insurance, as well as financing and lease offers.

"Uber and BYD share a commitment to innovate towards a cleaner, greener world, and I am excited to work together towards that future," said Wang Chuanfu, chairman and president of BYD.

"As the largest global agreement of its kind, we're thrilled about the benefits this partnership will deliver for drivers, riders, and cities," said Dara Khosrowshahi, CEO of Uber. "We're excited to help demonstrate the benefits of EVs to more people around the world."

Both companies have also vowed to collaborate on future BYD autonomous-capable vehicles to be deployed on the Uber platform.