Uber plans to have 50 fully electric cars in London by end Sept
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
A photo illustration shows the Uber app logo displayed on a mobile telephone, as it is held up for a posed photograph in central London, Britain August 17, 2016. REUTERS/Neil Hall/Illustration
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
LONDON (Reuters) - Ride service Uber [UBER.UL], which allows users to instantly hail a taxi ride using their smartphone, said some British customers would soon be traveling in electric cars, in keeping with London's drive to lower emissions.
Uber said that by the end of September some of its drivers would make use of 50 fully-electric cars under a partnership deal with car manufacturers BYD and Nissan, with hundreds of the environmentally-friendly cars potentially being on its books by next year.
London Mayor Sadiq Khan has promised to make London one of the greenest cities in the world, with more low-emission buses, additional charging points for electric cars and an extra charge levied on the most polluting vehicles amongst his plans.
Uber, which has faced opposition from established taxi companies across the world, said the electric vehicle program would help address London's air pollution problem, adding many Uber drivers already use lower emission hybrid cars. Such cars account for 60 percent of journeys organized via the app.
The initial plan for the 50 electric cars would be accompanied by a three-month study to look at the city's capacity to charge electric cars.
"A bigger roll out of fully electric cars needs a good network of charging points and the economics must add up for drivers too," Uber's UK regional General Manager Jo Bertram said.
Uber's investors include GV, formerly known as Google Ventures, and Goldman Sachs.
(Reporting by Sarah Young; Editing by Mark Potter)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pre-Open Stock Movers 10/24: (BEAV) (JPEP) (HLT) Higher; (BAS) (INO) (ADRO) Lower (more...)
- Belgians keep EU, Canada in suspense on trade deal
- NYSE short interest fell 1.4 percent in mid-October
Create E-mail Alert Related CategoriesReuters
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!