Uber and Moove Join Hands To Augment EV Delivery In London

Uber Technologies, Inc (NYSE: UBER) looks to collaborate with financial technology startup Moove to boost the number of electric vehicles in London by an additional 10,000 over the next few years, Bloomberg reports.
Moove has expanded its vehicle financing business to the U.K. after India and Nigeria.
Moove is already Uber's largest vehicle supply partner across Europe, the Mideast, and Africa.
Moove has raised over $200 million, and its investors included the U.K. government's British International Investment arm.
Moove helps ride-hailing and food delivery gig workers to get a vehicle with no deposit or credit check, relying instead on an alternative underwriting model.
Amid skyrocketing energy prices, Moove also sees a rise in demand for its electric vehicles, co-CEO Ladi Delano said.
He said the most popular car model financed by Moove is Tesla Inc's (NASDAQ:TSLA) Model 3.
Earlier, Uber introduced robot food delivery and explored adding electric vehicle charging stations into its global driver app to diversify its revenue base.
Uber clocked 105% revenue growth in Q2 to $8.1 billion, beating the consensus. Revenue from Mobility grew to $3.55 billion (+120% Y/Y), with Mobility Gross Bookings of $13.4 billion (+55% Y/Y).
Uber became a free cash flow generator in Q2.
Price Action: UBER shares traded lower by 0.83% at $28.52 in the premarket on the last check Thursday.
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