Ride-hailing giant Uber has struck a deal with China’s car manufacturing firm BYD for the production of 100,00 Electric Vehicles (EVs) to bolster its global car fleet.
As per BBC, the two companies reportedly stated that they would provide incentives to maintenance, charging, financing, and leasing for drivers who would make the switch to the electric cars.
"The companies aim to bring down the total cost of EV ownership for Uber drivers, accelerating the uptake of EVs on the Uber platform globally, and introducing millions of riders to greener rides," the two firms reportedly said in a statement.
They also stated that they will work to integrate BYD’s self-driving technologies into Uber's Platform.
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Reportedly, the multi-year agreement will be first deployed in Europe and Latin America before being made available in the Middle East, Canada, Australia, and New Zealand.
Earlier this year, it was reported that Uber was in talks with Elon Musk’s Tesla for EV adoption in U.S. and planned a purpose-built EV with South Korean car giant Kia.
The development comes amidst a stagnation of EV sales across the world as China's car industry is fraught with import challenges as the U.S, the European Union and other markets, have increased their tariffs on China’s EV vehicles, aimed at protecting their car industries.
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The move has prompted BYD and other Chinese EV makers to expand their production facilities outside China.
In July, BYD agreed a deal of $1bn to set up a manufacturing plant in Turkey
BYD, backed by veteran US investor Warren Buffett, is the world’s second-largest EV company after Elon Musk's Tesla.
