Uber Technologies Inc UBER is working with Tesla Inc TSLA to encourage drivers to switch to electric vehicles. Uber CEO Dara Khosrowshahi believes more and more companies are going to have to work together to achieve electrification.
What To Know: Axios on Wednesday reported that Uber has started sharing data with Tesla to help identify the areas where charging infrastructure is most needed.
The two companies are also working together to offer Uber drivers test drive opportunities to help familiarize them with EV technology, as well as discounts for purchasing new Tesla vehicles.
In a CNBC interview Wednesday at the World Economic Forum in Davos, Switzerland, Khosrowshahi explained that Uber will not reach its zero-emission goals without stronger actions from governments and other businesses.
“Climate is a team sport. There’s no individual company or individual person who can drive the climate agenda forward,” the Uber CEO said.
Uber remains “totally committed” to electrification of its fleets with goals to be electric in the U.S., Canada and Europe by 2030 and throughout the rest of the world by 2040. In order to reach its goals, the company is incentivizing drivers to switch to electric, Khosrowshahi said.
In order for drivers to make the switch, EVs need to be affordable and there needs to be ample charging infrastructure in place, he said: “We’ve gone from a period of excitement to a period of execution.”
Many of the legacy OEMs have pumped the brakes on electrification efforts due to demand concerns, and just last week, Hertz announced that it would be slashing one-third of its global EV fleet over the course of the year.
Although Khosrowshahi acknowledged that the company is seeing a broader pullback trend in the EV space, Uber is continuing to lean forward by going to OEMs like Tesla and getting them to lower prices to make the transition more affordable, he said.
“Nobody said this was going to be easy … we want to keep pushing forward through this more difficult time and we’re totally committed,” the Uber CEO said.
Read Next: Tesla Cuts Model Y Costs By As Much As 5000 Euros In Germany
UBER Price Action: Uber shares fell 0.83% to $63.12 on Wednesday, according to Benzinga Pro.
Photo: courtesy of Tesla.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
