Indian Economy News

Uber steps up EV push in India and partners with various EV fleets

Uber, a ride-hailing app, has unveiled its roadmap for sustainable mobility at an event in Delhi and revealed agreements with numerous electric vehicle (EV) manufacturers and other organisations to hasten its partners' transition to sustainable mobility. Lithium Urban Technologies, Everest Fleet Pvt Ltd, and Moove are the company's EV fleet partners. In accordance with the agreement, the company would roll out 25,000 electric vehicles in India on the Uber platform over the next two years.

Additionally, Uber and Zypp Electric have partnered to purchase 10,000 electric two-wheelers in Delhi by 2024.

Through Jio-bp, Uber announced that it will also bring its international collaboration with BP to India. Additionally, it has partnered with GMR Green Energy to provide fast charging for Uber EVs. Moreover, the ride-hailing app also disclosed cooperation with the Small Industries Development Bank of India (SIDBI) to unlock funding for EVs worth US$ 121.6 million (Rs. 1,000 crore). As part of its sustainability initiative, the San Francisco-based company also announced the launch of Uber Green in June in Delhi, Mumbai, and Bengaluru.

Uber Green is the most widely available on-demand mobility option for no or low-emission rides worldwide. The facility is available in over 100 cities across 15 different nations. The programme gives passengers the option to request an all-electric, zero tailpipe emission vehicle instead of a typical fossil-fuelled vehicle.

According to Mr. Andrew Macdonald, Senior Vice President of Mobility and Business Operations at Uber, "India's huge scale and electrification momentum makes the country a priority for Uber as we seek to meet our commitment to electrify every ride on our platform by 2040." Furthermore, he highlighted that India is a critical market for Uber with around 8 lakh active partners. In terms of volumes, India is the largest country for Uber.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.