Uber Strikes EV Deal with Chinese Tesla Rival BYD

Uber Strikes EV Deal with Chinese Tesla Rival BYD

Uber Strikes EV Deal with Chinese Tesla Rival BYD

Uber Strikes EV Deal with Chinese Tesla Rival BYD

Aug 2, 2024

Uber has made a deal with BYD, a Chinese electric car maker, to add 100,000 electric vehicles (EVs) to Uber’s global fleet. 

The plan will start in Europe and Latin America, and then expand to the Middle East, Canada, Australia, and New Zealand. This comes at a time when EV sales are slowing down and Chinese car makers are facing higher import taxes in places like the US and the European Union.

Uber and BYD said they want to make it cheaper for Uber drivers to own EVs, helping more drivers switch to greener cars and introducing more passengers to environmentally friendly rides. They also plan to use BYD’s self-driving technology in Uber’s cars.

At the end of last year, BYD announced it would build a factory in Hungary, its first in Europe, which will create thousands of jobs. The company is also planning to build a factory in Mexico.

BYD, backed by famous US investor Warren Buffett, is the world’s second-largest EV maker after Tesla, owned by Elon Musk.

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