Adani Group Seeks Tie Up With Uber To Venture Into EV Space

The Adani Group is seeking for a strategic partnership with ride-hailing major Uber to roll out its electric passenger cars. 

As per ET’s report, under the proposed partnership, Uber’s services will be brought under Adani One, which was launched in 2022, and offers services such as flight bookings, holiday packages, and cab bookings, with Uber integration.

Gautam Adani met with Uber CEO Dara Khosrowshahi last week and hinted at possible future collaborations between his conglomerate and the ride-hailing app.

Taking to X, both the business leaders appreciated their conversation on the Indian growth story and their vision for the subcontinent.

The Uber chief highlighted the mobility service provider’s commitment to accelerate the EV transition in India. Uber has declared its intention to replace the entire vehicle fleet with EVs by 2040. In line with its commitment to zero-emission mobility, Uber has introduced the environmentally friendly EV service, Uber Green, in Delhi.

With a presence in electric commercial vehicles, Adani plans to enter electric passenger vehicles. Furthermore, a tie-up with Uber would only help the conglomerate to fasten its play.

The conglomerate has submitted bids for 3,600 electric buses in government tenders. Partnering with Uber aligns with Adani’s $100 Bn investment plans spanning various industries, including the energy transition over the next decade. 

As per ET, the conglomerate is constructing a large solar farm and 10 GW solar manufacturing capacity, along with initiatives for EV charging stations and battery replacement.

The Adani-Uber partnership could speed up the adoption of electric four-wheelers in India and become a substantial global fleet partnership for the US ride-hailing platform. Widespread electric vehicle adoption might significantly enhance India’s gig economy.

Since its launch in India in 2013, Uber has completed over 3 Bn trips and is currently operational in 125 cities. According to the company’s statement, Uber has empowered over 800,000 Indians to generate income and take control of their livelihoods.

During an event in Bengaluru last week, Uber’s CEO, Dara Khosrowshahi, referred to India as one of the most challenging markets to penetrate.

It is pertinent to note that India continues to be one of the biggest markets for Uber globally. 

Meanwhile, the ride-hailing platform signed a pact with ONDC to explore integration with the network and expand its mobility offerings.

Uber India’s consolidated net loss surged 58% year-on-year (YoY) to INR 311.3 Cr in FY23. Operating revenues surged 54.4% YoY to INR 2,666.1 Cr in the year ended March 2023.

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