Uber, China's BYD, form partnership to deploy 100,000 EVs in EU and Latin America

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Andrew Feinberg

White House Correspondent

The ride sharing giant Uber and Chinese automaker BYD plan a partnership to introduce 100,000 BYD model EVs on the Uber platform in Europe and Latin America, eventually expanding to other markets, the companies announced.

The arrangement would offer Uber drivers access to favorable pricing, insurance, financing and other services for BYD vehicles, the companies said in a statement seen Thursday.

Plans call for the partnership to expand to the Middle East, Australia and New Zealand.

The companies said the plan would help accelerate the switch to EVs and that they also plan to collaborate in introducing autonomous-capable EVs on the Uber platform. BYD, China's largest EV maker, has fast been expanding its reach into world markets after switching entirely to production of EVs and hybrids in 2022.

The rapid emergence of low-priced EVs from China is shaking up the global auto industry in ways not seen since Japanese makers arrived during the oil crises of the 1970s.

The European Union imposed provisional duties on Chinese electric vehicles in June, alleging that government subsidies give automakers in China an unfair advantage. BYD EVs aren’t being sold in the U.S. now largely because of 27.5% tariffs on the sale price of Chinese vehicles when they arrive at ports.

But Chinese makers are moving production overseas. BYD, has opened a plant in Thailand and plans to build factories in Brazil, Hungary and Turkey.