Uber Pulls Back From Electric Cars, Slashing Incentives for Drivers

Uber has discontinued its monthly electric vehicle bonuses for drivers in the United States and Canada, marking the latest in a series of rollbacks from a company that once pledged to pour $800 million into helping its drivers transition away from gasoline-powered cars. The ride-hailing giant had previously eliminated its $1-per-ride EV perk last year, replacing it with monthly bonuses that required drivers to complete 200 rides. Those monthly payments are now gone too. The company is far behind its self-imposed climate targets. Uber had pledged to reach 100% EVs in London by 2025 and across North America and Europe by 2030. Current figures paint a different picture: roughly 40% of miles in London come from EVs, while Europe sits at about 15% and North America at just 9%. The company's emissions have nearly doubled over the past three years and now exceed Denmark's total carbon footprint. Uber executives acknowledged to Bloomberg that they will likely miss their green targets. The company has doled out $539 million of its $800 million pledge through the end of 2024. Meanwhile, Uber's operating profits are set to double this year, and the company recently committed $20 billion to stock buybacks.

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