New Era In Ridesharing: Ford And Uber's Mustang Mach-E Lease Pilot In Three Cities - Ford Motor (NYSE:F)

Ford Motor Co F announced a collaboration with Uber Technologies Inc UBER to launch a flexible lease pilot program called Ford Drive.
The pilot program is the first of its kind between an automaker and a rideshare network and is aimed at boosting electric rideshare adoption.
Ford Drive, launched in San Diego, San Francisco, and Los Angeles, gives flexible access to Ford Mustang Mach-E models.
Ford Drive is an initiative of its division, Ford Next, which drives complementing new business launches.
Ford Next and Uber initially launched the flexible lease pilot in 2022 in San Diego, permitting drivers on the Uber platform to lease more than 150 Mustang Mach-Es.
"We're glad that the initial feedback on this venture has been so strong, and it's exciting to learn from these driver experiences to explore solutions supporting Uber and Ford's shared electrification goals," said Bill Knapp, who leads Ford Drive.
Earlier, Ford stated its plan to invest more than $50 billion in electric vehicles through 2026.
Related: Ford Takes Fight To Tesla Camp With New Self-Driving Subsidiary 'Latitude AI:' What You Need To Know
As part of its Ford + plan, Ford aims to deliver a 600,000 EV production run rate globally by the end of 2023 and 2 million globally by the end of 2026.
Related: Ford CEO Says EVs Will Be More Expensive Than Their ICE Counterparts For Years: Report
Price Action: Ford shares are trading higher by 0.71% at $12.09 on the last check on Thursday.