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Uber Commits to 100% EV Ridesharing by 2030

By Rich Duprey - Updated Sep 9, 2020 at 8:56AM

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It will gradually push drivers to accept electric vehicles through incentive programs and discounts.

Uber Technologies (UBER -1.71%) announced on Tuesday that it is committed to having 100% of its rideshares in the U.S., Canada, and Europe be all-electric by 2030, and attaining global zero emissions a decade after that.

Through a combination of driver incentives to earn more money by using an electric vehicle (EV), partnerships with charging stations and home-charging kit providers, and discounts on Chevrolet Bolt EVs, Uber is encouraging its drivers to go green.

What the announcement doesn't say is whether it will be a requirement that all Uber drivers have an EV by the deadline.

Man charging an electric car

Image source: Uber Technologies.

To help drivers transition to an all-EV fleet, Uber is launching its Green Future program that lets drivers with battery EVs earn an extra $1 per trip while allowing both hybrid and all-EV drivers to earn an extra $0.50 per trip from passengers if they request an EV ride.

Uber has partnered with EVgo, billed as the largest public EV fast-charging network in the U.S., to offer discounts of up to 25% at its stations. It has also arranged for discounts with Enel (ENLAY -0.10%) and Sunrun (RUN -4.00%) for home vehicle-charging equipment and solar and battery-storage options, respectively; and set up a discount program with General Motors (GM 1.34%) Chevrolet dealers for drivers to get $2,925 below the sticker price on select 2020 Bolt EV Premiers.

The move follows a similar declaration by rival Lyft (LYFT -2.58%) back in June. But its plan also calls for the government to impose harsher emission standards on cars, mandate automakers to produce increasing numbers of EVs, and support transportation policies that use economic and racial demographics as the basis for decision-making.

 

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Uber Technologies, Inc. Stock Quote
Uber Technologies, Inc.
UBER
$32.24 (-1.71%) $0.56
General Motors Company Stock Quote
General Motors Company
GM
$38.46 (1.34%) $0.51
Enel SpA Stock Quote
Enel SpA
ENLAY
$5.09 (-0.10%) $0.01
Sunrun Inc. Stock Quote
Sunrun Inc.
RUN
$35.54 (-4.00%) $-1.48
Lyft, Inc. Stock Quote
Lyft, Inc.
LYFT
$18.90 (-2.58%) $0.50

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