Uber Unveils $260 Million Plan to Help All London Drivers Get Electric Cars by 2025
Ridesharing giant Uber unveiled a plan on Tuesday to raise $260 million (about £200 million) in order to get all of its drivers in London operating electric cars by 2025.
The effort is to help combat air pollution in the British capital, which is also a major initiative by London Mayor Sadiq Khan. Uber plans to help fund its new initiative by charging all London riders a 15p surcharge per mile as a "clean air fee." One penny of every 15p charge will go toward incentives for drivers to make the switch to electric vehicles, Uber says.
The app-based car company will give drivers on its platforms lump sums toward buying an electric car based on the number of miles they've driven with Uber. "A driver using the app for an average of 40 hours per week could expect around £3,000 of support towards an EV in two years' time and £4,500 in three years," Uber's statement explained. Using this method, the tech firm predicts that 20,000 of its London-based drivers will have made the switch to electric cars by 2021.
"Our £200 million Clean Air Plan is a long-term investment in the future of London aimed at going all electric in the capital in 2025. Over time, it's our goal to help people replace their car with their phone by offering a range of mobility options — whether cars, bikes, scooters or public transport — all in the Uber app," Uber CEO Dara Khosrowshahi said in the statement.
As mayor, Khan has added daily taxes for the city's drivers of older vehicles that have higher rates of pollution. The British government is planning to completely ban sales of gasoline- and diesel-run cars by 2040.
Uber's more than 40,000 drivers in London, as well as UK cities Birmingham and Nottingham, were recently striking due to poor work conditions and low pay. The company's operations were just re-instated in London by city officials over the summer, after having been banned due to Uber flouting some city regulations.
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app