Uber, BYD to introduce 100,000 EVs in Europe and Latin America

The popular ride-sharing app Uber has unveiled a partnership with Tesla competitor BYD to bring the Chinese carmaker's EVs to the platform in Europe and Latin America.

The two companies announced they plan to introduce 100,000 BYD model EVs on the Uber platform and eventually expand to other markets.

It would offer Uber drivers access to better pricing, insurance, financing and other services for BYD vehicles, according to the companies.

They 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 electric automaker, has been expanding its reach into world markets after switching entirely to the 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 Commission imposed tariffs on Chinese-made EVs last month after an investigation found that China's electric vehicle supply chain benefitted from subsidies.

The Commission said the subsidies were "causing a threat of economic injury to EU (battery electric vehicle) producers".