Tesla has announced a partnership with rideshare company Uber that will see the Texas-based EV maker offer discounts of up to $3,000 to Uber drivers. According to the deal, Uber drivers will be able to purchase the Tesla Model Y and Model 3 at discounted prices directly from Tesla on Uber’s vehicle marketplace platform.
The recent partnership is one of the many electrification endeavors undertaken by fleets in the United States. While Uber doesn’t own the majority of the vehicles used on its rideshare platform, the company is committed to facilitating electric- vehicle adoption among its drivers. Partnering with Tesla will grant Uber drivers access to bestselling electric cars at reduced prices based on their driver rating.
For instance, drivers with blue and gold ratings will qualify for a $1,000 discount with the purchase of an eligible Tesla model and completion of 100 rideshare trips in the electric car. These drivers must have received their EV in December 2023 and completed 100 rideshare trips before Feb. 25, 2024, to qualify for the discount.
Platinum drivers will be eligible for a $2,000 discount while diamond drivers qualify for a $3,000 discount with the purchase of an eligible Tesla. Both classes of drivers will also be subject to the same rules as blue and gold drivers.
It seems that both Tesla and Uber are financing the discounts, which will cover Tesla models delivered by December 2023. Tesla is currently scrambling to deliver as many electric cars as possible before the year ends as part of the company’s efforts to reach the goal of delivering 1.8 million cars this year and breaking sales numbers. Unfortunately, Tesla sales in major markets such as China, Europe and the United States have declined in recent months.
High prices coupled with surging interest rates have forced drivers in most markets to opt for cheaper alternatives or put off purchasing an EV altogether. Significantly increased competition in China has also caused Tesla to lose market share to local automakers and forced it to engage in price discount wars to remain competitive.
Furthermore, tighter electric-vehicle subsidy policies in European nations such as Germany and France will likely cause Tesla sales to slump in the EU region. The requirement to complete 100 rideshare trips by mid-February to qualify for the discount would also benefit Uber because it will keep drivers on the platform and allow the rideshare company to cut emissions from its vehicles.
Other automakers in the EV space such as VinFast Auto Ltd. (NASDAQ: VFS) may also be considering strategies to boost their sales to fleets around the world in a bid to shore up sales and win market share.
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