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UBER TECHNOLOGIES, INC.

(UBER)
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Uber Launches Green Rides Option in Spain

01/14/2022 | 07:46am EST

By Maitane Sardon


Uber Technologies Inc. said Friday that it is launching a program allowing users to request an electric vehicle in Spain as it moves to accelerate the decarbonization of its European fleet.

The ride-hailing company said the initiative, called Uber Green, will help it reach its goal of becoming a "zero-emissions platform" in Europe, the U.S. and Canada by 2030.

To encourage drivers in Spain to make the switch to EVs, Uber said it has partnered with Banco Santander SA to provide them with discounted leasing plans.

It has also teamed up with Spanish oil-and-gas company Repsol SA to give drivers on its ride-hailing platform access to charging discounts at service stations, the company said.

Uber, which aims to have an all-electric fleet by 2040, said it has made some progress since the launch of the program in major European cities. It said it has doubled the number of fully electric vehicles in London since March last year. In Paris, Uber said that 31% of all kilometers on its platform are in EVs or petrol hybrids.

As of November last year, electric cars accounted for less than 5% of kilometers driven by Uber in Europe, according to think-tank Transport & Environment.


Write to Maitane Sardon at maitane.sardon@wsj.com


(END) Dow Jones Newswires

01-14-22 0746ET

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BANCO SANTANDER, S.A. -0.18% 3.1345 Delayed Quote.6.60%
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ON SEMICONDUCTOR CORPORATION -6.38% 59.01 Delayed Quote.-13.12%
REPSOL S.A. 0.07% 11.132 Delayed Quote.6.67%
UBER TECHNOLOGIES, INC. -1.43% 37.86 Delayed Quote.-9.71%
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Financials (USD)
Sales 2021 17 052 M - -
Net income 2021 -2 124 M - -
Net Debt 2021 3 758 M - -
P/E ratio 2021 -32,5x
Yield 2021 -
Capitalization 73 453 M 73 453 M -
EV / Sales 2021 4,53x
EV / Sales 2022 2,99x
Nbr of Employees 24 700
Free-Float 99,3%
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Number of Analysts 46
Last Close Price 37,86 $
Average target price 66,96 $
Spread / Average Target 76,9%
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Managers and Directors
Dara Khosrowshahi Chief Executive Officer & Director
Nelson J. Chai Chief Financial Officer
Ronald D. Sugar Chairman
Yasir bin Othman Al-Rumayyan Independent Director
David I. Trujillo Independent Director
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