Uber to electrify EVs in India soon

Uber Electric Vehicles in India , Pradeep Parameswaran , Business News

Uber is planning to increase its electric vehicles fleet in India by the end of 2020, holding strategic partnerships across the ecosystem, a report suggested. Uber is a ride-hailing app which has more than 350 electric vehicles and is now planning to expand it to 1,500 by the end of 2020.

As per the Economic Times, Pradeep Parameswaran, President, Uber India South Asia, stated that the company was looking at India as a growth market for the next ten years. Uber continues to partner with the automobile industry and various startups to launch new products, especially in electric mobility space.

Pradeep said that Uber believed that the original equipment manufacturers (OEM) industry in India was evolved and was now robust. Talking about the strategy, Pradeep said that the plan was to actively partner with OEMs, financiers and technology service providers for the infrastructure that makes these form factors and bring it in the rider base, safety, and marketplace technology.

He added that the electric two-wheelers and three-wheeler vehicles were commercially feasible however, the four-wheelers may take at least three years or longer to monetize. Uber has already sent electric autos in Chandigarh with SUN Mobility, where it offers swappable batteries and some interchange stations to select OEMs.

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Also, Uber has partnership with the e-cycle sharing app Yulu in an order to offer rental bicycles to customers in Bengaluru. Meanwhile, India has given subsidies for such electric vehicles under Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme to provide further incentives to such businesses.

-PTC News