Uber and BYD have entered a strategic partnership aimed at providing Uber drivers with preferential pricing and financing for 100,000 electric vehicles.

This collaboration is designed to reduce the total cost of EV ownership for Uber drivers, promoting the adoption of electric vehicles on the platform.

Initially, the partnership will launch in Europe and Latin America, with plans to expand into the Middle East, Canada, Australia, and New Zealand.

Notably, the partnership does not include the U.S. market, where tariffs on Chinese EVs are particularly high.

The partnership's success may be challenged by increasing restrictions on sales of Chinese-made EVs in various countries.

Uber CEO Dara Khosrowshahi highlighted the significant emissions benefits of switching to EVs, noting that drivers could achieve up to four times the emissions reductions compared to traditional vehicles.

Uber's drivers are reportedly adopting electric vehicles at a rate five times faster than average motorists, although affordability remains a concern.

This collaboration is expected to introduce millions of riders to more environmentally friendly transportation options.

Chuanfu Wang, Chairman and President of BYD, expressed enthusiasm about the shared commitment to innovation for a cleaner, greener world.

BYD has established itself as a global leader in electric vehicle production and briefly overtook Tesla as the world's largest electric car manufacturer by volume last year.

Following the announcement of the partnership, Uber's stock rose approximately 2.5% in pre-market trading, reflecting investor optimism.

Uber has previously collaborated with various automakers and rental companies to facilitate EV adoption, positioning itself as a leader in the on-demand EV network globally.