Smartcar And Uber Partner To Accelerate The Transition To Electric By Removing Range Anxiety For Drivers
Portfolio Pulse from Benzinga Newsdesk
Smartcar has partnered with Uber Technologies to integrate EV battery level data into Uber's Driver app, reducing range anxiety for EV drivers. This feature will initially be available for select makes and models, with plans to expand. It aims to make EV rideshare more user-friendly and supports Uber's goal of becoming a zero-emission platform by 2030 in the U.S. and Canada, and carbon-free by 2040 globally. Uber is investing $800 million to assist drivers in transitioning to EVs, and Smartcar's technology enables battery range checks without additional hardware.
November 29, 2023 | 3:08 pm
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Uber's partnership with Smartcar to integrate EV battery data into its app is expected to enhance the driver experience by reducing range anxiety, potentially increasing the adoption of EVs among Uber drivers.
The partnership with Smartcar is likely to have a positive impact on Uber's stock in the short term as it addresses a significant barrier to EV adoption for drivers, aligns with environmental goals, and enhances the overall user experience. This could improve Uber's public image and potentially increase its market share in the rideshare industry as consumers and investors increasingly favor companies with strong sustainability initiatives.
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