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Uber nyse Uber Offers 000 Credits to Commuters Switching to Public Transit

Uber (NYSE: UBER) Offers $1,000 Credits to Commuters Switching to Public Transit

Uber (NYSE: UBER) announced on Thursday that it will offer $1,000 in credits to eligible commuters across the U.S. and Canada who choose to switch from using their cars to utilizing public and alternative transportation options for five weeks. This initiative aims to boost business for Uber while contributing to emissions reduction efforts.

The ride-hailing and food delivery platform operator has advocated for environmentally friendly electric vehicle adoption for several years. They have committed $800 million to assist their driver partners in transitioning exclusively to EVs by 2040.

It has partnered with rental car company Hertz to offer Tesla cars as a rental option for its drivers in the U.S. and Europe, but the exact proportion of EVs in its total fleet remains unclear.

Under the “One Less Car” initiative, Uber will choose up to 175 car owners in Los Angeles, Chicago, Washington D.C., Miami, San Francisco, Toronto, and Vancouver based on eligibility criteria for a five-week program starting July 22.

They will get $500 in credit redeemable on the Uber app, a $200 voucher for car rental or carshare services, and $300 for use on alternate modes such as public transport.

A similar initiative by Uber in Australia last year showed that commuters mainly took to walking, cycling, and ride-share after ditching their cars.

The move comes as transport operators, including major U.S. airlines, expect robust tourist activity and travel this summer.

According to Uber (NYSE: UBER), the U.S. has 233 million private vehicles, about 80 million of which are driven less than 10 miles a day on average.

Published by ReutersReuters on June 27

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Zabih Ullah
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.