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Uber Technologies Inc. (NYSE:UBER) riders in London will now have the option to choose a fully electric vehicle for their journey instead of a hybrid, diesel or petrol car, according to a report by the Financial Times.
What Happened: The ride-hailing service is offering the Uber Green service to passengers for journeys that start in London’s Zone 1 from Monday, with plans for a wider rollout in the city at a later date, as per the FT report.
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Drivers of fully electric vehicles will be charged a reduced service fee of 15 percent by Uber as an incentive. Currently, only 1,600 Uber drivers in London have electric vehicles out of a fleet of about 45,000, according to the report.
See Also: Uber Delivery Service Key For Growth, Analysts Say After Mixed Q4
Why It Matters: The move is part of Uber’s pledge last year to go fully electric by 2040 and reduce the company’s environmental impact. London is one of Uber’s biggest markets and Uber has said it plans to go all-electric in the city from 2025.
It was reported in January last year that Uber signed a deal with Nissan Motor Co. Ltd. (OTC:NSANY) to introduce 2,000 Nissan Leaf electric cars for its drivers in Britain at a discounted price.
The move also comes after Uber regained its license to operate in London in September last year when a judge upheld the ride-hailing company’s appeal against Transport for London. In addition, Uber has reclassified its drivers in the UK as workers after the UK Supreme Court’s ruling in February this year.
Price Action: Uber shares closed 1.5% higher on Friday at $54.71.
Read Next: Uber To Reopen San Francisco Offices With 20% Capacity On March 29: Reuters
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.