Economy

Uber Drivers Offered Significant Discounts on Kia Electric Cars

<?xml encoding=”utf-8″ ?????????>

Londoners accustomed to seeing their Uber drivers in Toyota Priuses may soon find them driving electric Kias instead as Uber is set to offer more than 35,000 of its London drivers up to £22,000 in grants and discounts to transition from hybrids, diesel, and petrol cars to fully electric vehicles.

The app-based taxi service aims to make its entire fleet of 50,000 vehicles in the capital zero-emission by the end of 2025. Currently, only a quarter of Uber’s London fleet runs on fully electric power.

To achieve this ambitious goal, Uber will launch an initiative this week, offering £5,000 grants to ensure each of its London drivers switches to electric vehicles over the next 18 months. This initiative is funded by a £145 million green surcharge fund that Uber has accumulated in the UK.

Uber has also secured significant discounts from car manufacturers. For instance, drivers interested in the £56,000 Kia EV6 will benefit from a £17,000 discount from the Korean manufacturer, coupled with the £5,000 grant from Uber, bringing the car’s price down to £34,000.

Similarly, the popular Kia Niro EV will be available for £20,000 after a £12,000 discount. Andrew Brem, general manager of Uber UK, emphasized the urgency of accelerating electrification, especially given recent slowdowns in electric car sales in Britain due to affordability concerns.

Manufacturers are supporting the scheme as they aim to meet government-enforced quotas. Car makers are required to ensure that 22 per cent of their vehicles are electric in 2024, with this quota rising to 28 per cent in 2025, or face penalties.

This move by Uber comes as UK sales data show a decline in the growth of new electric car sales to private motorists, primarily due to the high upfront costs of these vehicles. By offering substantial incentives, Uber hopes to overcome these barriers and contribute to a greener future for London’s transportation network.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

GroovyTrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 GroovyTrades. All Rights Reserved.

To Top