Israel Hurtado’s Post

PARTNERSHI: BYD and Uber partner to deploy 100,000 #EVs #BYD, a manufacturer of new energy vehicles and power batteries, has entered a multi-year strategic partnership with #Uber to introduce 100,000 new BYD #electricvehicles (EVs) onto the Uber platform across key regions, starting in Europe and Latin America.  Currently, Uber operates the most widely available on-demand EV network globally, while BYD is an EV producer. The collaboration intends to reduce the total cost of EV ownership for Uber drivers, promote the adoption of EVs on the Uber platform and provide riders with greener #transportation options. “As the largest global agreement of its kind, we’re thrilled about the benefits this partnership will deliver for drivers, riders and cities,” said Dara Khosrowshahi, CEO of Uber. “When an Uber driver makes the switch to an EV, they can deliver up to four times the #emissions benefits compared to a regular motorist, simply because they are on the road more.” Stella. Li, executive vice president of BYD and CEO of BYD Americas, said, “This collaboration marks a new era in the #electrification of #urban mobility, and we look forward to seeing our cutting-edge EVs become a common sight on the streets of #cities worldwide.” Read more here: https://lnkd.in/eHxegDuW #Automotive #Powertrain #PowertrainMag #Engineering #AutomotiveEngineering #AutomotiveDesign #Sustainability #ElectricVehicles #EV #Testing #Technology #Transportation #AutoTestExpo #ukimediaevents

🚗 Tesla made the EV market hot and interesting for the masses, but will BYD ride the wave and capture the largest market share? 🌊 Will we see rental and car-sharing companies shift to BYD for a more affordable and electric alternative to Tesla? 🤔 💼 BYD, in collaboration with Uber, is offering an innovative model where drivers can easily access BYD cars via financing. Essentially, this means that someone can sign up to become an Uber driver without even owning a car. Through a revenue-sharing model, they can earn commissions and eventually own a BYD EV. 🚘 This model presents multiple wins: - Uber gains loyal drivers thanks to favourable car financing 🎯 - Drivers get a new EV and a steady income source 🚙💰 - Uber users enjoy rides in well-designed new cars 🏆 - BYD scales up its sales and boosts brand recognition 📈 Could we soon see a BYD-only car-sharing app? 🤩 I'd be excited to support this initiative! PS. In 2024, Tesla (US) sold 440,000 cars globally, while BYD (China) sold 720,000 cars—63.6% more! 🚀 Source: https://lnkd.in/dsQQB99T #ElectricVehicles #BYD #Tesla #Uber #EVMarket #CarSharing #SharedMobility #FutureOfTransportation

So while the jury is still out on the future of EV's, this partnership can be a real successful model for EV industry from large scale adoption POV. In India, the same MO is being exhibited in the 2W as well as 4W categories. Will be interesting to see how EV players in India play this game... #EV

Uber and BYD are teaming up to put 100,000 EVs on the road, and onto the Uber platform, across key global markets. Beginning first in Europe and Latin America, the partnership is expected to offer drivers access to best-in-class pricing and financing for BYD vehicles on the Uber platform, and will expand to include markets across the Middle East, Canada, Australia, and New Zealand. BYD overtook Tesla as the worlds largest NEV manufacturer by sales in 2023 with 3,024,417 vehicles sold, including the company’s plug-in hybrids (1,438,084 units) and commercial vehicles (11,511). Takeaways: This is a big deal for BYD, the planet, and the EV industry as a whole. The deal will expose millions of riders, and potential customers, to BYD cars in new markets the company is targeting. As competition drives down margins in the Chinese EV market, BYD is looking overseas for sources of quality revenue. There are also huge environmental and marketing benefits. Dara Khosrowshahi, CEO of Uber, claims that, “When an Uber driver makes the switch to an EV, they can deliver up to four times the emissions benefits compared to a regular motorist, simply because they are on the road more. Many riders also tell us their first experience with an EV is on an Uber trip, and we’re excited to help demonstrate the benefits of EVs to more people around the world.” Source: Uber - https://lnkd.in/g9F7-Dc4 #Uber #BYD #EV

🚗 **BYD Partners with Uber: A Game-Changer in the EV Market!** 🚗 The EV market is seeing an exciting twist! Chinese electric vehicle giant BYD has partnered with ride-hailing leader Uber. This strategic move aims to integrate a significant number of BYD’s electric vehicles into Uber’s fleet. The results could be transformative for both the ride-sharing industry and the broader EV market, challenging Tesla's long-standing dominance. Here are the key points: 🔋 **Expanded Fleet**: Uber's commitment to adding BYD vehicles to their fleet is a major step toward reducing urban carbon emissions and promoting sustainable transportation. 💰 **Affordable Options**: BYD plans to offer substantial discounts to Uber drivers, making EVs more accessible and financially viable. ⚡ **Robust Infrastructure**: Both companies will invest in developing a strong charging network, alleviating range anxiety for drivers. 🤖 **Autonomous Driving**: Investment in autonomous vehicle technology may lead to self-driving Uber EVs, reducing operational costs down the road. 🔥 **Competitive Edge**: Leveraging Uber's extensive network and BYD’s manufacturing prowess, this partnership is a direct challenge to Tesla’s market stronghold. This collaboration has far-reaching implications with an expected reduction in urban air pollution and greenhouse gas emissions. For Uber drivers, lower operational costs could mean higher take-home pay. As electric vehicles become more mainstream, this initiative might accelerate global EV adoption. Don't miss out on optimizing your financial future during these dynamic times in the transportation and EV market. **Maximizing your tax savings can provide substantial benefits**. Connect with us to explore effective tax-saving strategies tailored to your needs. 🔗 **Join Us for a Call**: https://lnkd.in/gEhBUk3S.

When talking, reading, or researching about EVs and how China is dominating the global EV market, one company’s name keeps popping up more often than the rest — BYD. Insight #1 After surpassing Tesla in late 2023, BYD is now the largest electric automaker in the world. Chances are that you have not even heard of them. BYD, or Build Your Dreams, promotes itself as the biggest car brand you’ve never heard of. And it's very true, at least in the context of sales figures. Tesla sold an impressive 480,000 vehicles in the last quarter of 2023, and BYD sold a whopping 526,000 vehicles for the same period. The company also boasts a staggering 35% market share in China. Talking to the YouTube channel Coldfusion, Elliot Richards, the East Asia correspondent for the Fully Charged show, said, “BYD has been building cars for 20 years. The cars for the last 18 years haven’t been very good. The last three years have really seen a lot of Chinese brands focus on, I think, gimmicks, to be honest with you. I think what we are seeing right now in 2024 is a change in things people really care about, such as efficiency, safety, and the important basics, instead of focusing on the glittery cherry on top bits.” Insight #2 BYD has electric shuttle buses, public transportation buses, trucks, and taxis cruising through countless cities globally, and some of their largest plants for these are even in US cities. The company’s influence is expanding rapidly across Latin America and Southeast Asia, reshaping transportation in those regions. Back home in China, they are the number one EV brand. Overseas, BYD leads the sales charts in Israel and Thailand. In Bangkok, BYD’s electric taxis roam the streets in large numbers. The company is also expanding into Mexico, Brazil, and several other Latin American countries, as well as the Middle East. The automaker is scouting potential factory locations in France, Spain, and Germany to establish a presence in Europe. Recently, BYD opened its first factory in Hungary and announced its entry into Europe through “the heart of Europe.” Famously, in 2008, Warren Buffet chose to invest in them over Tesla. Investing $232 million in the then relatively unknown company based on his longtime partner, the late Charlie Munger’s advice. To supply its operations, the company has even built eight enormous ships to transport its cars to global markets. - - - - - - - - - - - - - - - - - - P.S. If you like what you are reading, please consider leaving a like, comment, or reposting this post. This will help my content reach a new audience and also encourage me to keep posting about various business and industry insights. Follow Bharat S for more content like this.

Uber is partnering with BYD , the Chinese EV automaker, to add more EVs to its fleet and to expand its autonomous options. If — and how — this could impact Uber’s US market is still anyone’s guess though. To kick off, Uber is bringing in 100,000 BYD vehicles to its fleets in Latin America and Europe. The goal is to encourage more drivers to transition to electric vehicles and to lower the cost of ownership for these drivers. The companies plan to expand this partnership to other areas of the world, including Canada and New Zealand. But still no word on whether the companies will try to also enter the US market, given that the US has raised tariffs on Chinese-made EVs. That being said though, the increase in Uber’s use of robotaxis in other areas of the world could serve as a test case for the US. The success — or failure — of the self-driving vehicles could potentially help inform the self-driving space here. Do you think Uber’s use of robotaxis in other countries could encourage scaling of those vehicles here? https://lnkd.in/een5saa3 #Uber #UberBYD #BYD #chineseEVs #EVschina #electricvehicles #EVUS #robotaxis #selfdrivingcars #AV

#Uber Partners with #BYD to Deploy 100,000 #EVs Globally Uber and BYD have just announced a groundbreaking partnership to introduce 100,000 electric vehicles (EVs) across key markets, starting with Europe and Latin America, followed by the Middle East, Canada, Australia, and New Zealand. This multi-year collaboration aims to offer best-in-class EV pricing, financing, and discounts on charging, maintenance, and insurance for Uber drivers. The initiative also includes plans for #autonomous-capable vehicles, pushing the boundaries of innovation in urban mobility. This partnership not only makes #green #transportation more accessible and affordable but also significantly amplifies the environmental benefits due to the higher road presence of Uber drivers and enhance BYD's global footprint in the EV market. https://lnkd.in/e-Mx3e3n