Uber CEO Dara Khosrowshahi Unveils EV-Only Ride Option In Over 40 Cities Globally: Retail Turns ‘Bullish’

Uber Technologies Inc (UBER) CEO Dara Khosrowshahi said the ride-hailing firm now has enough electric vehicle (EV) drivers on its platform to make it an EV-only option in over 40 cities globally.

Riders will be able to choose an EV for about the same price as UberX, Khosrowshahi said. The CEO also highlighted the fact that Uber drivers are adopting EVs five times faster than the average motorist in the U.S., Canada and Europe.

“In London, nearly 30% of all miles driven on Uber are now electric. And with Uber Green available in 200+ cities globally, riders can now choose a hybrid or electric ride with one tap,” he said.

Following the announcement, retail sentiment on Stocktwits shifted into the ‘bullish’ territory (56/100) from the ‘bearish’ zone a day ago.

Uber is also introducing a new feature using which riders can set their preference in the app and get matched with an EV anytime one is nearby. If the estimated time of arrival is within a few minutes of a standard UberX, the EV ride will be on the way.

Meanwhile, in New York City and Los Angeles, customers will have the option to order seasonal produce and fresh goods directly from local farmers’ markets on Uber Eats.

For its drivers, Uber is launching an EV mentorship program that will connect experienced EV drivers with drivers who are EV-curious, allowing them to share their experiences and answer their questions. The firm is also introducing an AI Assistant in the driver app – powered by OpenAI’s GPT-4o– which will help drivers get answers to questions about EVs.

Uber shares are up nearly 28% since the beginning of the year, outperforming major U.S. benchmark indices.

For updates and corrections email newsroom@stocktwits.com

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