Uber and BYD Partner to Introduce 100,000 EVs on Uber Platform
Ride-sharing giant Uber and Chinese automaker BYD have announced a partnership to introduce 100,000 BYD model EVs on the Uber platform in Europe and Latin America, with plans to expand to other markets in the future.
This collaboration will offer Uber drivers access to favorable pricing, insurance, financing, and other services for BYD vehicles. The partnership is expected to expand to the Middle East, Australia, and New Zealand.
The companies aim to accelerate the transition to electric vehicles (EVs) and plan to collaborate on introducing autonomous-capable EVs on the Uber platform. BYD, China's largest EV maker, has rapidly expanded its reach into global markets after transitioning entirely to the production of EVs and hybrids in 2022.
The emergence of low-priced EVs from China is disrupting the global auto industry, reminiscent of the impact Japanese manufacturers had during the oil crises of the 1970s.
The European Union imposed provisional duties on Chinese electric vehicles in June, citing concerns about unfair advantages due to government subsidies. BYD EVs are not currently sold in the U.S. due to high tariffs on Chinese vehicles.
However, Chinese manufacturers are increasingly moving production overseas. BYD has opened a plant in Thailand and plans to build factories in Brazil, Hungary, and Turkey. This move could potentially mitigate the impact of tariffs and further expand their global reach.